Amicus Therapeutics (NASDAQ:FOLD) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a research note released on Thursday.

Several other research analysts have also issued reports on the stock. Bank of America increased their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley decreased their target price on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Finally, Jefferies Financial Group began coverage on Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.13.

Amicus Therapeutics Stock Performance

Amicus Therapeutics stock opened at $11.47 on Thursday. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -29.41 and a beta of 0.68. The stock’s 50 day simple moving average is $11.15 and its two-hundred day simple moving average is $10.59. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $126.67 million for the quarter, compared to analysts’ expectations of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, analysts expect that Amicus Therapeutics will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total transaction of $79,500.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $9,398,532.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. boosted its holdings in Amicus Therapeutics by 5.3% in the 2nd quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 936 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in shares of Amicus Therapeutics by 156.9% in the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,569 shares during the period. Arizona State Retirement System boosted its stake in shares of Amicus Therapeutics by 2.6% in the second quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock worth $615,000 after acquiring an additional 1,577 shares during the period. American International Group Inc. grew its position in shares of Amicus Therapeutics by 1.3% during the first quarter. American International Group Inc. now owns 143,034 shares of the biopharmaceutical company’s stock worth $1,685,000 after purchasing an additional 1,785 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Amicus Therapeutics by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 1,884 shares during the period.

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.