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 research report issued to clients and investors on Thursday.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group began coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research report on Friday, August 9th. Bank of America increased their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley decreased their price target on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Amicus Therapeutics in a report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Amicus Therapeutics Trading Up 0.4 %

NASDAQ FOLD opened at $11.47 on Thursday. Amicus Therapeutics has a 1-year low of $9.02 and a 1-year high of $14.57. The company has a current ratio of 2.75, a quick ratio of 2.26 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $3.40 billion, a PE ratio of -29.41 and a beta of 0.69. The firm’s fifty day simple moving average is $11.15 and its 200-day simple moving average is $10.59.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $121.21 million. During the same period in the prior year, the business posted ($0.15) earnings per share. Amicus Therapeutics’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amicus Therapeutics will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics 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 sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $9,398,532.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised 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 valued at $28,000 after acquiring an additional 1,569 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Amicus Therapeutics by 1,705.4% in the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 2,831 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Amicus Therapeutics in the third quarter valued at approximately $32,000. Headlands Technologies LLC bought a new position in shares of Amicus Therapeutics in the second quarter valued at approximately $89,000. Finally, Sage Capital Advisors llc bought a new position in shares of Amicus Therapeutics in the second quarter valued at approximately $103,000.

About Amicus Therapeutics

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.