Amicus Therapeutics (NASDAQ:FOLD) Sets New 12-Month High – Time to Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares hit a new 52-week high during trading on Thursday . The company traded as high as $14.48 and last traded at $14.4650, with a volume of 195389 shares trading hands. The stock had previously closed at $14.46.

Analyst Ratings Changes

FOLD has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Friday, March 27th. Zacks Research cut Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Leerink Partners cut Amicus Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $17.00 to $14.50 in a report on Monday, December 29th. Guggenheim cut Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $14.50 target price (down from $16.00) on shares of Amicus Therapeutics in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.39.

Amicus Therapeutics Stock Performance

The stock has a fifty day simple moving average of $14.40 and a 200-day simple moving average of $12.43. The stock has a market cap of $4.54 billion, a P/E ratio of -180.81 and a beta of 0.48. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.88 and a current ratio of 2.84.

Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $185.21 million for the quarter, compared to the consensus estimate of $185.00 million. Amicus Therapeutics had a positive return on equity of 4.15% and a negative net margin of 4.27%.Amicus Therapeutics’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. On average, equities analysts expect that Amicus Therapeutics, Inc. will post 0.43 earnings per share for the current year.

Insider Buying and Selling at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 22,500 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $14.35, for a total value of $322,875.00. Following the completion of the transaction, the chief executive officer owned 998,680 shares in the company, valued at $14,331,058. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Amicus Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 29,702,696 shares of the biopharmaceutical company’s stock valued at $422,966,000 after acquiring an additional 168,667 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Amicus Therapeutics by 7.6% in the 3rd quarter. William Blair Investment Management LLC now owns 15,749,240 shares of the biopharmaceutical company’s stock valued at $124,104,000 after acquiring an additional 1,107,083 shares in the last quarter. HBK Investments L P bought a new position in shares of Amicus Therapeutics in the 4th quarter valued at about $217,160,000. State Street Corp grew its holdings in shares of Amicus Therapeutics by 28.3% in the 4th quarter. State Street Corp now owns 14,833,314 shares of the biopharmaceutical company’s stock valued at $211,226,000 after acquiring an additional 3,270,375 shares in the last quarter. Finally, Vestal Point Capital LP grew its holdings in shares of Amicus Therapeutics by 178.4% in the 2nd quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock valued at $68,187,000 after acquiring an additional 7,625,000 shares in the last quarter.

Amicus Therapeutics Company Profile

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.