Amicus Therapeutics (NASDAQ:FOLD) Lowered 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 report published on Friday morning.

FOLD has been the subject of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday. Guggenheim boosted their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. decreased 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. Jefferies Financial Group started coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Bank of America lifted their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Amicus Therapeutics Price Performance

FOLD stock traded up $0.01 during midday trading on Friday, hitting $10.99. 2,096,772 shares of the company’s stock were exchanged, compared to its average volume of 2,700,833. 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 firm has a 50 day moving average price of $11.13 and a 200-day moving average price of $10.61. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last posted 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 return on equity of 17.03% and a negative net margin of 21.21%. The business had revenue of $126.67 million for the quarter, compared to analyst estimates of $121.21 million. During the same period in the prior year, the company posted ($0.15) EPS. The business’s revenue was up 34.0% compared to the same quarter last year. Analysts expect that Amicus Therapeutics will post -0.06 EPS for the current year.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total transaction of $79,500.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at $9,398,532.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Bradley L. Campbell sold 7,901 shares of Amicus Therapeutics stock in a transaction dated Wednesday, November 6th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $9,398,532.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,401 shares of company stock valued at $352,038. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its stake in shares of Amicus Therapeutics by 20.1% in the first quarter. Janus Henderson Group PLC now owns 13,814,514 shares of the biopharmaceutical company’s stock valued at $162,713,000 after acquiring an additional 2,307,385 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Amicus Therapeutics by 12.8% in the 2nd quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock valued at $128,993,000 after acquiring an additional 1,477,084 shares during the period. Fiera Capital Corp boosted its position 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 worth $52,382,000 after purchasing an additional 58,113 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Amicus Therapeutics by 14.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,020,536 shares of the biopharmaceutical company’s stock worth $29,964,000 after acquiring an additional 378,999 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Amicus Therapeutics by 17.9% during the 2nd quarter. Victory Capital Management Inc. now owns 2,273,959 shares of the biopharmaceutical company’s stock worth $22,558,000 after purchasing an additional 345,117 shares in the last quarter.

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.