Amicus Therapeutics (NASDAQ:FOLD) Cut to “Hold” at StockNews.com

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently commented on FOLD. Bank of America raised their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Cantor Fitzgerald lifted their target price on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday. Guggenheim lifted their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. cut their target price on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.50.

Amicus Therapeutics Price Performance

Shares of FOLD opened at $10.98 on Friday. Amicus Therapeutics has a 1 year low of $9.02 and a 1 year high of $14.57. 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 company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -28.15 and a beta of 0.68. The business has a 50-day moving average of $11.14 and a 200-day moving average of $10.61.

Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The business had revenue of $126.67 million during the quarter, compared to analysts’ expectations of $121.21 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. As a group, equities research analysts anticipate that Amicus Therapeutics will post -0.06 earnings per share for the current year.

Insider Buying and Selling at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total value of $87,825.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $10,382,718.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Bradley L. Campbell sold 7,901 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total transaction of $98,762.50. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $11,083,175. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total value of $87,825.00. Following the sale, the chief executive officer now owns 886,654 shares in the company, valued at approximately $10,382,718.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,401 shares of company stock worth $352,038 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Amicus Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FOLD. OLD Second National Bank of Aurora purchased a new position in Amicus Therapeutics during the third quarter worth about $26,000. Hazlett Burt & Watson Inc. grew its position in Amicus Therapeutics by 156.9% during the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,569 shares in the last quarter. Blue Trust Inc. grew its position in Amicus Therapeutics by 1,705.4% during the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 2,831 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Amicus Therapeutics during the third quarter worth about $32,000. Finally, Headlands Technologies LLC purchased a new position in Amicus Therapeutics during the second quarter worth about $89,000.

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.