Short Interest in Amicus Therapeutics, Inc. (NASDAQ:FOLD) Drops By 6.5%

Amicus Therapeutics, Inc. (NASDAQ:FOLD) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 25,800,000 shares, a decrease of 6.5% from the May 31st total of 27,590,000 shares. Based on an average daily trading volume, of 2,560,000 shares, the days-to-cover ratio is currently 10.1 days.

Amicus Therapeutics Price Performance

NASDAQ FOLD traded up $0.05 during trading hours on Tuesday, reaching $9.85. The company’s stock had a trading volume of 1,114,888 shares, compared to its average volume of 2,854,471. The stock has a market cap of $2.92 billion, a PE ratio of -20.10 and a beta of 0.71. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The company’s 50-day moving average is $9.95 and its two-hundred day moving average is $11.66. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.61 and a current ratio of 3.03.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. Amicus Therapeutics had a negative net margin of 34.73% and a negative return on equity of 77.08%. The firm had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $111.19 million. During the same period in the prior year, the company earned ($0.18) EPS. The firm’s revenue was up 27.9% on a year-over-year basis. Analysts forecast that Amicus Therapeutics will post -0.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FOLD shares. Bank of America cut their price target on shares of Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating for the company in a report on Friday, May 10th. Guggenheim upgraded shares of Amicus Therapeutics from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, May 14th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Friday, May 10th. Morgan Stanley cut their price target on shares of Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Wells Fargo & Company initiated coverage on shares of Amicus Therapeutics in a report on Thursday, May 30th. They issued an “overweight” rating and a $18.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.57.

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.07, for a total transaction of $75,525.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,928,605.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently modified their holdings of FOLD. Envestnet Asset Management Inc. boosted its stake in shares of Amicus Therapeutics by 170.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 393,728 shares of the biopharmaceutical company’s stock worth $4,788,000 after purchasing an additional 248,220 shares during the last quarter. Invesco Ltd. boosted its position in shares of Amicus Therapeutics by 19.6% in the third quarter. Invesco Ltd. now owns 917,719 shares of the biopharmaceutical company’s stock worth $11,159,000 after acquiring an additional 150,641 shares during the last quarter. Northern Trust Corp boosted its position in shares of Amicus Therapeutics by 0.6% in the third quarter. Northern Trust Corp now owns 2,831,930 shares of the biopharmaceutical company’s stock worth $34,436,000 after acquiring an additional 15,608 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Amicus Therapeutics by 21.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 64,529 shares of the biopharmaceutical company’s stock worth $785,000 after acquiring an additional 11,578 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Amicus Therapeutics by 25.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 15,243 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 3,082 shares during the last quarter.

Amicus Therapeutics Company Profile

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.