Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up to $9.04

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $9.04, but opened at $9.49. Amicus Therapeutics shares last traded at $9.38, with a volume of 134,981 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $22.00 price target on shares of Amicus Therapeutics in a research note on Thursday, February 29th. Guggenheim upgraded Amicus Therapeutics from a "neutral" rating to a "buy" rating and set a $13.00 price objective on the stock in a research report on Tuesday. Morgan Stanley reduced their target price on Amicus Therapeutics from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday. Bank of America reduced their target price on Amicus Therapeutics from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a research report on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.50.

Amicus Therapeutics Price Performance

The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -18.45 and a beta of 0.80. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.61 and a current ratio of 3.03. The company has a 50 day moving average of $11.12 and a 200 day moving average of $11.95.

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $110.40 million during the quarter, compared to analysts' expectations of $111.19 million. Amicus Therapeutics had a negative return on equity of 77.08% and a negative net margin of 34.73%. The business's quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) EPS. As a group, equities research analysts anticipate that Amicus Therapeutics, Inc. will post -0.05 EPS for the current year.

Insider Transactions at Amicus Therapeutics

In other news, insider David Michael Clark sold 4,427 shares of the company's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $61,978.00. Following the completion of the transaction, the insider now directly owns 253,664 shares of the company's stock, valued at approximately $3,551,296. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 4,167 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $58,338.00. Following the completion of the sale, the chief executive officer now directly owns 871,219 shares of the company's stock, valued at approximately $12,197,066. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Michael Clark sold 4,427 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $61,978.00. Following the sale, the insider now directly owns 253,664 shares of the company's stock, valued at $3,551,296. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,208 shares of company stock valued at $732,930. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Amicus Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC raised its stake in shares of Amicus Therapeutics by 278.8% during the 1st quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company's stock worth $156,000 after buying an additional 9,729 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Amicus Therapeutics by 583.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,176,600 shares of the biopharmaceutical company's stock valued at $25,640,000 after purchasing an additional 1,858,100 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Amicus Therapeutics by 7.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 100,538 shares of the biopharmaceutical company's stock worth $1,183,000 after purchasing an additional 7,304 shares during the last quarter. American International Group Inc. boosted its stake in shares of Amicus Therapeutics by 1.3% during the 1st quarter. American International Group Inc. now owns 143,034 shares of the biopharmaceutical company's stock worth $1,685,000 after purchasing an additional 1,785 shares during the last quarter. Finally, Seven Eight Capital LP boosted its stake in shares of Amicus Therapeutics by 14.8% during the 1st quarter. Seven Eight Capital LP now owns 161,348 shares of the biopharmaceutical company's stock worth $1,901,000 after purchasing an additional 20,767 shares during 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.