Amicus Therapeutics (NASDAQ:FOLD) Rating Lowered to Hold at StockNews.com

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Amicus Therapeutics in a report on Friday, September 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Jefferies Financial Group began coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Morgan Stanley cut their price objective on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Amicus Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Price Performance

Shares of FOLD stock opened at $10.50 on Tuesday. The firm has a market cap of $3.11 billion, a P/E ratio of -21.43 and a beta of 0.69. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.75 and a quick ratio of 2.26. Amicus Therapeutics has a 1-year low of $9.02 and a 1-year high of $14.57. The firm has a fifty day moving average of $11.15 and a two-hundred day moving average of $10.55.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The business had revenue of $126.67 million during the quarter, compared to analyst estimates of $121.21 million. During the same period in the previous year, the business posted ($0.15) EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. As a group, research analysts anticipate that Amicus Therapeutics will post -0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total transaction of $87,825.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,382,718.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 22,500 shares of company stock worth $244,875. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Amicus Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FOLD. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Amicus Therapeutics during the 4th quarter worth about $1,178,000. American International Group Inc. raised its position in shares of Amicus Therapeutics by 0.9% during the 4th quarter. American International Group Inc. now owns 141,249 shares of the biopharmaceutical company’s stock worth $2,004,000 after buying an additional 1,298 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Amicus Therapeutics by 101.9% during the 4th quarter. Wellington Management Group LLP now owns 15,190,024 shares of the biopharmaceutical company’s stock worth $215,546,000 after buying an additional 7,666,335 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Amicus Therapeutics by 5.0% in 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. Finally, Los Angeles Capital Management LLC grew its stake in shares of Amicus Therapeutics by 812.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 118,360 shares of the biopharmaceutical company’s stock worth $1,394,000 after purchasing an additional 105,384 shares during the last quarter.

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.