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

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

FOLD has been the subject of a number of other reports. Morgan Stanley dropped 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Amicus Therapeutics in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their target price on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Finally, Bank of America boosted their target price 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amicus Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $17.13.

Amicus Therapeutics Trading Up 0.8 %

Shares of FOLD stock opened at $11.58 on Thursday. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57. The company has a market capitalization of $3.43 billion, a P/E ratio of -23.63 and a beta of 0.69. The firm has a 50-day moving average price of $11.16 and a 200 day moving average price of $10.57. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The firm had revenue of $126.67 million during the quarter, compared to the consensus estimate of $121.21 million. During the same period last year, the firm posted ($0.15) EPS. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. Research analysts forecast 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 business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at $9,398,532.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FOLD. Principal Financial Group Inc. grew its holdings in Amicus Therapeutics by 44.1% during the first quarter. Principal Financial Group Inc. now owns 238,076 shares of the biopharmaceutical company’s stock valued at $2,805,000 after purchasing an additional 72,856 shares during the period. Duality Advisers LP grew its holdings in Amicus Therapeutics by 40.3% during the first quarter. Duality Advisers LP now owns 37,555 shares of the biopharmaceutical company’s stock valued at $442,000 after purchasing an additional 10,792 shares during the period. SG Americas Securities LLC acquired a new position in Amicus Therapeutics during the first quarter valued at approximately $291,000. Mesirow Institutional Investment Management Inc. acquired a new position in Amicus Therapeutics during the first quarter valued at approximately $372,000. Finally, Swiss National Bank grew its holdings in Amicus Therapeutics by 2.3% during the first quarter. Swiss National Bank now owns 434,300 shares of the biopharmaceutical company’s stock valued at $5,116,000 after purchasing an additional 9,900 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.