StockNews.com Downgrades Amicus Therapeutics (NASDAQ:FOLD) to Hold

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

A number of other analysts also recently issued reports on FOLD. Morgan Stanley lowered their price target on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of Amicus Therapeutics in a research report on Friday, September 20th. Bank of America raised their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Finally, Jefferies Financial Group started coverage on Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 target price on the stock. 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 MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Amicus Therapeutics Trading Up 0.4 %

Shares of NASDAQ FOLD opened at $11.47 on Thursday. The stock has a market capitalization of $3.40 billion, a P/E ratio of -29.41 and a beta of 0.69. Amicus Therapeutics has a 1-year low of $9.02 and a 1-year high of $14.57. The business’s 50 day moving average is $11.15 and its two-hundred day moving average is $10.59. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.75 and a quick ratio of 2.26.

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

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated 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 owns 886,654 shares of the company’s stock, valued at approximately $9,398,532.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. lifted its holdings in shares of 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 purchasing an additional 1,569 shares during the period. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 2,831 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Amicus Therapeutics during the third quarter worth about $32,000. Headlands Technologies LLC acquired a new stake in shares of Amicus Therapeutics during the second quarter worth about $89,000. Finally, Sage Capital Advisors llc acquired a new stake in shares of Amicus Therapeutics during the second quarter worth about $103,000.

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.