Amicus Therapeutics (NASDAQ:FOLD) Downgraded to Hold Rating by StockNews.com

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

Several other research analysts have also commented on the stock. Jefferies Financial Group assumed coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. Guggenheim lifted their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, November 7th. Bank of America increased their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald boosted their price target on Amicus Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Price Performance

Shares of Amicus Therapeutics stock opened at $9.57 on Wednesday. The business’s fifty day moving average price is $10.50 and its 200 day moving average price is $10.61. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $2.86 billion, a P/E ratio of -28.15 and a beta of 0.60.

Insider Activity at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $11.46, for a total value of $85,950.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,161,054.84. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 30,401 shares of company stock valued at $339,363 over the last three months. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its position in shares of Amicus Therapeutics by 13.5% during the 3rd quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock worth $255,936,000 after purchasing an additional 2,856,101 shares during the period. Neo Ivy Capital Management bought a new stake in Amicus Therapeutics in the third quarter valued at $702,000. Fiera Capital Corp boosted its holdings in shares of Amicus Therapeutics by 1.1% during the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock valued at $52,382,000 after acquiring an additional 58,113 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Amicus Therapeutics by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company’s stock worth $28,486,000 after acquiring an additional 242,672 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Amicus Therapeutics by 51.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,934 shares of the biopharmaceutical company’s stock worth $2,381,000 after acquiring an additional 75,807 shares during the period.

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.