Zacks Investment Research lowered shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a sell rating in a report published on Thursday morning.
According to Zacks, “AMICUS THERAPEUTICS is a biopharmaceutical company developing novel, oral therapeutics known as pharmacological chaperones for the treatment of a range of human genetic diseases. Pharmacological chaperone technology involves the use of small molecules that selectively bind to and stabilize proteins in cells, leading to improved protein folding and trafficking, and increased activity. Amicus is initially targeting lysosomal storage disorders, which are severe, chronic genetic diseases with unmet medical needs. Amicus has completed Phase 2 clinical trials of Amigal(TM) for the treatment of Fabry disease and is conducting Phase 2 clinical trials of Plicera(TM) for the treatment of Gaucher disease. “
A number of other equities analysts also recently issued reports on FOLD. BidaskClub upgraded Amicus Therapeutics from a strong sell rating to a sell rating in a research report on Saturday, October 6th. Chardan Capital reiterated a hold rating and issued a $15.00 target price on shares of Amicus Therapeutics in a report on Friday, October 12th. Cowen reiterated a buy rating and issued a $31.00 target price on shares of Amicus Therapeutics in a report on Friday, October 12th. Citigroup assumed coverage on Amicus Therapeutics in a report on Monday, October 29th. They issued a neutral rating and a $12.00 target price for the company. Finally, Guggenheim assumed coverage on Amicus Therapeutics in a report on Monday, December 17th. They issued a buy rating and a $18.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $19.29.
Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.04). Amicus Therapeutics had a negative return on equity of 52.03% and a negative net margin of 463.82%. The company had revenue of $20.60 million for the quarter, compared to the consensus estimate of $23.56 million. During the same quarter last year, the business earned ($0.41) earnings per share. Amicus Therapeutics’s revenue was up 89.0% compared to the same quarter last year. On average, sell-side analysts predict that Amicus Therapeutics will post -1.22 earnings per share for the current fiscal year.
In other news, CFO William D. Baird III sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $12.23, for a total transaction of $122,300.00. Following the completion of the sale, the chief financial officer now owns 127,622 shares in the company, valued at $1,560,817.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AXA boosted its position in shares of Amicus Therapeutics by 113.1% during the third quarter. AXA now owns 1,218,691 shares of the biopharmaceutical company’s stock valued at $14,734,000 after buying an additional 646,739 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Amicus Therapeutics during the third quarter valued at approximately $14,096,000. First Trust Advisors LP boosted its position in shares of Amicus Therapeutics by 15.8% during the third quarter. First Trust Advisors LP now owns 213,396 shares of the biopharmaceutical company’s stock valued at $2,580,000 after buying an additional 29,046 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Amicus Therapeutics during the second quarter valued at approximately $11,048,000. Finally, Janus Henderson Group PLC boosted its position in shares of Amicus Therapeutics by 7.7% during the third quarter. Janus Henderson Group PLC now owns 8,806,359 shares of the biopharmaceutical company’s stock valued at $106,469,000 after buying an additional 627,972 shares during the last quarter.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.
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