Amicus Therapeutics (NASDAQ:FOLD) Sees Unusually-High Trading Volume – Here’s What Happened
by Doug Wharley · The Cerbat GemShares of Amicus Therapeutics, Inc. (NASDAQ:FOLD – Get Free Report) saw strong trading volume on Monday . 15,846,485 shares traded hands during mid-day trading, an increase of 96% from the previous session’s volume of 8,102,869 shares.The stock last traded at $14.2350 and had previously closed at $14.27.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Guggenheim cut shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 29th. Zacks Research upgraded Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Cantor Fitzgerald downgraded Amicus Therapeutics from an “overweight” rating to a “hold” rating and decreased their price objective for the stock from $21.00 to $14.50 in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.67.
Get Our Latest Research Report on Amicus Therapeutics
Amicus Therapeutics Price Performance
The firm has a market capitalization of $4.41 billion, a PE ratio of -357.41 and a beta of 0.42. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.99 and a quick ratio of 2.09. The firm has a 50-day simple moving average of $10.98 and a 200-day simple moving average of $8.59.
Amicus Therapeutics (NASDAQ:FOLD – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $169.06 million for the quarter, compared to analysts’ expectations of $165.24 million. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. As a group, equities analysts forecast that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current year.
Insider Transactions at Amicus Therapeutics
In other Amicus Therapeutics news, insider David Michael Clark sold 25,642 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $14.17, for a total transaction of $363,347.14. Following the completion of the transaction, the insider owned 245,690 shares in the company, valued at $3,481,427.30. This trade represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bradley L. Campbell sold 77,926 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $10.86, for a total transaction of $846,276.36. Following the sale, the chief executive officer owned 1,129,782 shares in the company, valued at $12,269,432.52. This represents a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 345,450 shares of company stock valued at $3,657,000. 2.20% of the stock is owned by company insiders.
Institutional Trading of Amicus Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in Amicus Therapeutics by 450.1% during the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 3,358 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Amicus Therapeutics by 472.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 3,677 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Amicus Therapeutics by 167.1% in the 4th quarter. GAMMA Investing LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,243 shares in the last quarter. Strs Ohio purchased a new stake in shares of Amicus Therapeutics during the 1st quarter worth $30,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Amicus Therapeutics during the third quarter valued at about $31,000.
About Amicus Therapeutics
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.