Amicus Therapeutics, Inc. (NASDAQ:FOLD) Short Interest Update

Amicus Therapeutics, Inc. (NASDAQ:FOLD) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 25,800,000 shares, a drop 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 short-interest ratio is currently 10.1 days.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $10.07, for a total transaction of $75,525.00. Following 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 Securities & Exchange Commission, which is available at this link. Insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Amicus Therapeutics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock worth $404,308,000 after purchasing an additional 1,360,613 shares during the last quarter. Norges Bank acquired a new position in Amicus Therapeutics in the 4th quarter valued at about $35,915,000. UBS Group AG grew its position in Amicus Therapeutics by 58.1% in the 4th quarter. UBS Group AG now owns 824,708 shares of the biopharmaceutical company’s stock valued at $11,703,000 after acquiring an additional 303,038 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Amicus Therapeutics by 32.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,415,090 shares of the biopharmaceutical company’s stock valued at $34,270,000 after acquiring an additional 593,131 shares in the last quarter. Finally, Blackstone Inc. acquired a new position in Amicus Therapeutics in the 4th quarter valued at about $35,008,000.

Amicus Therapeutics Stock Down 0.4 %

Shares of NASDAQ:FOLD opened at $9.81 on Thursday. The business has a 50-day moving average price of $9.93 and a 200 day moving average price of $11.64. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.03 and a quick ratio of 2.61. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FOLD shares. Morgan Stanley decreased their price objective on Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. JPMorgan Chase & Co. decreased their price objective on Amicus Therapeutics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Bank of America decreased their price objective on Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Wells Fargo & Company began coverage on Amicus Therapeutics in a report on Thursday, May 30th. They issued an “overweight” rating and a $18.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Amicus Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $17.57.

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.