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

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

Other equities research analysts have also recently issued reports about the company. Morgan Stanley decreased their price objective on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Jefferies Financial Group assumed coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 target price on shares of Amicus Therapeutics in a research report on Friday, September 20th. Bank of America lifted their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Amicus Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $17.13.

Amicus Therapeutics Stock Up 0.4 %

Shares of Amicus Therapeutics stock opened at $11.47 on Thursday. 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 stock has a market cap of $3.40 billion, a price-to-earnings ratio of -29.41 and a beta of 0.68. The firm’s 50-day moving average is $11.15 and its two-hundred day moving average is $10.59. Amicus Therapeutics has a 1 year low of $9.02 and a 1 year high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $126.67 million for the quarter, compared to the consensus estimate of $121.21 million. Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The company’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period last year, the firm earned ($0.15) earnings per share. As a group, research analysts expect 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 the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total value of $79,500.00. Following the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $9,398,532.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FOLD. Old West Investment Management LLC raised its position in Amicus Therapeutics by 617.2% during the third quarter. Old West Investment Management LLC now owns 340,441 shares of the biopharmaceutical company’s stock valued at $3,636,000 after acquiring an additional 292,976 shares in the last quarter. AlphaCentric Advisors LLC increased its holdings in shares of Amicus Therapeutics by 1.2% during the 3rd quarter. AlphaCentric Advisors LLC now owns 205,000 shares of the biopharmaceutical company’s stock valued at $2,189,000 after purchasing an additional 2,500 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of Amicus Therapeutics by 156.9% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,569 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Amicus Therapeutics during the third quarter worth $32,000. Finally, Fullcircle Wealth LLC acquired a new stake in Amicus Therapeutics during the third quarter valued at $136,000.

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.