Morgan Stanley Initiates Coverage on Amicus Therapeutics (NASDAQ:FOLD) – MarketBeat

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Equities research analysts at Morgan Stanley started coverage on shares of Amicus Therapeutics (NASDAQ:FOLDGet Rating) in a report issued on Friday, The Fly reports. The firm set an “equal weight” rating on the biopharmaceutical company’s stock.

Amicus Therapeutics Price Performance

FOLD opened at $11.70 on Friday. The company has a 50-day moving average of $11.32 and a 200-day moving average of $9.47. The company has a market capitalization of $3.28 billion, a P/E ratio of -11.82 and a beta of 0.91. Amicus Therapeutics has a 1-year low of $5.91 and a 1-year high of $12.96. The company has a debt-to-equity ratio of 2.25, a quick ratio of 2.90 and a current ratio of 3.02.

Amicus Therapeutics (NASDAQ:FOLDGet Rating) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. Amicus Therapeutics had a negative net margin of 87.50% and a negative return on equity of 102.55%. During the same quarter last year, the business posted ($0.19) earnings per share. Equities analysts expect that Amicus Therapeutics will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at Amicus Therapeutics


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In other Amicus Therapeutics news, COO Bradley L. Campbell sold 16,410 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $10.00, for a total value of $164,100.00. Following the sale, the chief operating officer now owns 689,618 shares in the company, valued at $6,896,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John F. Crowley sold 10,468 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $8.01, for a total transaction of $83,848.68. Following the completion of the sale, the chief executive officer now directly owns 922,339 shares in the company, valued at $7,387,935.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Bradley L. Campbell sold 16,410 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $10.00, for a total transaction of $164,100.00. Following the sale, the chief operating officer now owns 689,618 shares of the company’s stock, valued at $6,896,180. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,619 shares of company stock worth $972,686. 2.40% of the stock is owned by company insiders.

Institutional Trading of Amicus Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in Amicus Therapeutics by 5.6% during the fourth quarter. Raymond James & Associates now owns 27,687 shares of the biopharmaceutical company’s stock worth $320,000 after buying an additional 1,459 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in Amicus Therapeutics by 0.4% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 446,459 shares of the biopharmaceutical company’s stock worth $5,157,000 after buying an additional 1,566 shares in the last quarter. Point72 Hong Kong Ltd boosted its holdings in Amicus Therapeutics by 14.9% during the first quarter. Point72 Hong Kong Ltd now owns 12,685 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 1,646 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Amicus Therapeutics by 6.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,919 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 1,733 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Amicus Therapeutics by 155.7% in the 4th quarter. First Horizon Advisors Inc. now owns 2,917 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 1,776 shares in the last quarter.

About Amicus Therapeutics

(Get Rating)

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 based on in vitro assay data.

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