Perceptive Advisors LLC recently announced the acquisition of new stake in Amicus Therapeutics Inc. (NASDAQ:FOLD). The institutional investor has increased its shareholding in the Healthcare company by 0.99% to 27.64 million shares with purchase of 0.27 million shares. This fresh investment now brings its stake to 9.84% valued currently at $364.61 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.66 million to 25.85 million shares. And BlackRock Fund Advisors has lifted its position by 1.33% or 0.24 million shares – to 18.26 million shares.
With over 3.39 million Amicus Therapeutics Inc. (FOLD) shares trading Friday and a closing price of $11.44 on the day, the dollar volume was approximately $38.83 million. The shares have shown a negative half year performance of -2.22% and its price on 03/10/23 lost nearly -1.55%. Currently, there are 289.71M common shares owned by the public and among those 251.96M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for FOLD have a consensus price objective of $15.70. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $11.00. The average price target is 27.27% above its recent price level and a downside to the estimated low will see the stock lose -4.0% over that period. But an upside of 42.8% will see the stock hit the forecast high price target while median target price for the stock is $16.00.
Insiders at the company have transacted a total of 104 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 1,659,957 shares. Insider sales of the common stock occurred on 70 occasions, with total insider shares sold totaling 1,135,478 shares.
The top 3 mutual fund holders in Amicus Therapeutics Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and Janus Henderson Contrarian Fund. Vanguard Total Stock Market Index owns 8.61 million shares of the company’s stock, all valued at over $113.59 million. The company bought an additional 89256.0 shares recently to bring their total holdings to about 3.07% of the shares outstanding. Vanguard Small Cap Index Fund bought 39798.0 shares to see its total holdings expand to 7.28 million shares valued at over $96.0 million and representing 2.59% of the shares outstanding. Janus Henderson Contrarian Fund bought 0.42 million shares to bring its total holdings to over 6.71 million shares at a value of $88.53 million. Janus Henderson Contrarian Fund now owns shares totaling to 2.39% of the shares outstanding.
Shares of Amicus Therapeutics Inc. (NASDAQ: FOLD) opened at $11.64, up $0.02 from a prior closing price of $11.62. However, the script later moved the day high at 11.70, down -1.55%. The company’s stock has a 5-day price change of -9.21% and -6.08% over the past three months. FOLD shares are trading -6.31% year to date (YTD), with the 12-month market performance up to 26.97% higher. It has a 12-month low price of $5.91 and touched a high of $13.84 over the same period. FOLD has an average intraday trading volume of 2.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.12%, -9.42%, and 1.92% respectively.
Institutional ownership of Amicus Therapeutics Inc. (NASDAQ: FOLD) 289.71M shares outstanding. Mutual fund holders own 42.29%, while other institutional holders and individual stakeholders account for 60.62% and 23.99% respectively.
It has a market capitalization of $3.29B and a beta (3y monthly) value of 0.84. The earnings-per-share (ttm) stands at -$0.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.00% over the week and 3.74% over the month.
Analysts forecast that Amicus Therapeutics Inc. (FOLD) will achieve an EPS of -$0.13 for the current quarter, -$0.12 for the next quarter and -$0.32 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.24 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.29 a year ago. Earnings per share for the fiscal year are expected to increase by 11.30%, and 164.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Amicus Therapeutics Inc. (FOLD) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 5 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FOLD, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on September 09, 2022, with the firm’s price target at $14. Goldman coverage for the Amicus Therapeutics Inc. (FOLD) stock in a research note released on April 13, 2022 offered a Neutral rating with a price target of $11. SVB Leerink was of a view on January 14, 2022 that the stock is Outperform, while Stifel gave the stock Buy rating on November 15, 2021, issuing a price target of $12- $16. JP Morgan on their part issued Overweight rating on September 30, 2021.
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