Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Down on Disappointing Earnings

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $9.85, but opened at $9.11. Amicus Therapeutics shares last traded at $9.97, with a volume of 359,403 shares changing hands.

The biopharmaceutical company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Amicus Therapeutics had a negative net margin of 21.21% and a negative return on equity of 15.97%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Monday, January 13th. Morgan Stanley reissued an “equal weight” rating and issued a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. JPMorgan Chase & Co. lifted their price objective on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Guggenheim increased their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.88.

Insider Buying and Selling

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.02, for a total transaction of $75,150.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at $8,884,273.08. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 company. Vanguard Group Inc. lifted its position in shares of Amicus Therapeutics by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,258,963 shares of the biopharmaceutical company’s stock valued at $275,619,000 after buying an additional 458,143 shares during the last quarter. Wellington Management Group LLP lifted its position in Amicus Therapeutics by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock valued at $268,112,000 after purchasing an additional 4,497,950 shares during the period. Geode Capital Management LLC boosted its holdings in Amicus Therapeutics by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company’s stock valued at $70,499,000 after purchasing an additional 80,926 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Amicus Therapeutics by 4.4% during the 4th quarter. Nuveen Asset Management LLC now owns 3,807,420 shares of the biopharmaceutical company’s stock valued at $35,866,000 after buying an additional 159,139 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Amicus Therapeutics by 5.9% in the 4th quarter. Northern Trust Corp now owns 3,371,639 shares of the biopharmaceutical company’s stock valued at $31,761,000 after buying an additional 187,652 shares during the period.

Amicus Therapeutics Stock Performance

The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The firm has a fifty day moving average of $9.60 and a 200 day moving average of $10.43. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -29.26, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61.

Amicus Therapeutics Company Profile

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.