Amicus Therapeutics (NASDAQ:FOLD) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a report released on Tuesday morning.

A number of other research firms have also recently issued reports on FOLD. Jefferies Financial Group started coverage on Amicus Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $18.00 target price for the company. Morgan Stanley lowered their target price on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Amicus Therapeutics in a report on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.13.

Amicus Therapeutics Trading Down 0.6 %

FOLD opened at $11.90 on Tuesday. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -24.29 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. The firm has a 50 day simple moving average of $11.17 and a 200 day simple moving average of $10.56.

Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm 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 company’s revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. On average, sell-side analysts anticipate that Amicus Therapeutics will post -0.07 earnings per share for the current year.

Insider Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total value 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 the SEC website. In the last 90 days, insiders sold 22,500 shares of company stock worth $244,875. 2.20% of the stock is owned by insiders.

Institutional Trading of Amicus Therapeutics

A number of institutional investors have recently bought and sold shares of FOLD. Vanguard Group Inc. raised its position in shares of Amicus Therapeutics by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock valued at $404,308,000 after buying an additional 1,360,613 shares in the last quarter. Wellington Management Group LLP lifted 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 valued at $215,546,000 after acquiring an additional 7,666,335 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Amicus Therapeutics by 20.1% during the 1st quarter. Janus Henderson Group PLC now owns 13,814,514 shares of the biopharmaceutical company’s stock worth $162,713,000 after purchasing an additional 2,307,385 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Amicus Therapeutics by 12.8% in the second quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock worth $128,993,000 after purchasing an additional 1,477,084 shares during the period. Finally, Fiera Capital Corp raised its stake in Amicus Therapeutics by 1.1% in the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock valued at $52,382,000 after purchasing an additional 58,113 shares in 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.