Jefferies Financial Group Initiates Coverage on Amicus Therapeutics (NASDAQ:FOLD)

Jefferies Financial Group began coverage on shares of Amicus Therapeutics (NASDAQ:FOLD) in a research note released on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $18.00 price target on the biopharmaceutical company’s stock.

A number of other brokerages have also recently commented on FOLD. Guggenheim raised shares of Amicus Therapeutics from a neutral rating to a buy rating and set a $13.00 target price for the company in a report on Tuesday, May 14th. JPMorgan Chase & Co. lowered their target price on Amicus Therapeutics from $17.00 to $16.00 and set an overweight rating on the stock in a research note on Friday, August 16th. Morgan Stanley dropped their price target on shares of Amicus Therapeutics from $20.00 to $19.00 and set an overweight rating on the stock in a research note on Friday, May 10th. UBS Group reduced their price objective on shares of Amicus Therapeutics from $20.00 to $19.00 and set a buy rating for the company in a research report on Friday, May 10th. Finally, Wells Fargo & Company started coverage on Amicus Therapeutics in a research report on Thursday, May 30th. They set an overweight rating and a $18.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $17.25.

Amicus Therapeutics Price Performance

FOLD stock opened at $11.51 on Friday. The business has a 50 day moving average price of $10.85 and a 200 day moving average price of $10.83. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -23.49 and a beta of 0.69. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93.

Amicus Therapeutics (NASDAQ:FOLD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $126.67 million for the quarter, compared to analysts’ expectations of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The business’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. Equities research analysts anticipate that Amicus Therapeutics will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $10.34, for a total value of $77,550.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $9,168,002.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $10.34, for a total value of $77,550.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $9,168,002.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bradley L. Campbell sold 6,100 shares of Amicus Therapeutics stock in a transaction on Friday, July 5th. The shares were sold at an average price of $10.00, for a total transaction of $61,000.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,866,540. The disclosure for this sale can be found here. Insiders sold a total of 21,100 shares of company stock valued at $226,375 over the last 90 days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in Amicus Therapeutics in the second quarter valued at approximately $138,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of Amicus Therapeutics by 49.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 71,210 shares of the biopharmaceutical company’s stock valued at $706,000 after acquiring an additional 23,667 shares during the period. Algert Global LLC acquired a new position in shares of Amicus Therapeutics during the 2nd quarter valued at $879,000. The Manufacturers Life Insurance Company boosted its position in Amicus Therapeutics by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 172,303 shares of the biopharmaceutical company’s stock worth $1,709,000 after purchasing an additional 8,509 shares during the period. Finally, Millennium Management LLC increased its holdings in Amicus Therapeutics by 1,758.9% in the 2nd quarter. Millennium Management LLC now owns 1,894,176 shares of the biopharmaceutical company’s stock valued at $18,790,000 after purchasing an additional 1,792,277 shares in the last quarter.

About Amicus Therapeutics

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.