HC Wainwright reiterated their buy rating on shares of Amicus Therapeutics (NASDAQ:FOLD) in a report issued on Thursday morning, AnalystRatings.com reports. HC Wainwright currently has a $18.00 price objective on the biopharmaceutical company’s stock.
“Valuation and risks to our investment thesis. Our current 12-month, $18 price target on shares of Amicus is derived from a 13-year DCF-based, sum-of-the-parts analysis driven by: beta of 1.70; terminal growth rate of 0.5%; risk premium of 4.93%; estimated WACC of 10.8%; and tax rate of 12.5% beginning in FY 2030. Galafold and AT- GAA at 42% each, plus the two Batten disease programs programs at a combined 16%, make up our rNPV. For AT-GAA, we assume a POS of 70%, whereas for CLN6 we assume a 45% POS and assign a 10% POS for CLN3.”,” HC Wainwright’s analyst commented.
A number of other equities research analysts also recently weighed in on FOLD. Zacks Investment Research upgraded Amicus Therapeutics from a sell rating to a hold rating in a research report on Friday, May 3rd. Robert W. Baird set a $20.00 price target on Amicus Therapeutics and gave the company a buy rating in a research report on Monday, April 22nd. BidaskClub upgraded Amicus Therapeutics from a sell rating to a hold rating in a report on Friday, June 7th. Janney Montgomery Scott began coverage on Amicus Therapeutics in a report on Friday, April 5th. They issued a buy rating and a $13.91 price objective on the stock. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $19.00 price objective (down previously from $20.00) on shares of Amicus Therapeutics in a report on Wednesday, June 5th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $18.06.
Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.09). Amicus Therapeutics had a negative net margin of 386.18% and a negative return on equity of 64.11%. The firm had revenue of $34.00 million for the quarter, compared to analysts’ expectations of $37.82 million. The business’s revenue for the quarter was up 103.6% compared to the same quarter last year. On average, equities research analysts expect that Amicus Therapeutics will post -1.29 earnings per share for the current fiscal year.
In other news, CEO John F. Crowley sold 20,000 shares of Amicus Therapeutics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $11.15, for a total value of $223,000.00. Following the transaction, the chief executive officer now owns 770,399 shares in the company, valued at $8,589,948.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael Raab sold 5,000 shares of Amicus Therapeutics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $11.16, for a total value of $55,800.00. Following the completion of the transaction, the director now owns 13,895 shares in the company, valued at approximately $155,068.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,000 shares of company stock worth $779,000. Company insiders own 2.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sageworth Trust Co bought a new stake in shares of Amicus Therapeutics in the first quarter worth about $34,000. Meeder Asset Management Inc. bought a new stake in shares of Amicus Therapeutics in the second quarter worth about $73,000. Strs Ohio grew its stake in shares of Amicus Therapeutics by 176.9% in the first quarter. Strs Ohio now owns 10,800 shares of the biopharmaceutical company’s stock worth $146,000 after purchasing an additional 6,900 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Amicus Therapeutics in the first quarter worth about $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Amicus Therapeutics by 53.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,161 shares of the biopharmaceutical company’s stock worth $202,000 after purchasing an additional 5,595 shares during the last quarter.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers Galafold, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 for indications, including pompe disease.
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