BidaskClub Downgrades Amicus Therapeutics (NASDAQ:FOLD) to Sell

BidaskClub downgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a sell rating in a research note published on Thursday morning, BidAskClub reports.

Other analysts have also issued reports about the company. Cantor Fitzgerald reiterated an overweight rating and issued a $19.00 price objective (down from $20.00) on shares of Amicus Therapeutics in a research report on Wednesday, June 5th. Robert W. Baird set a $20.00 price objective on Amicus Therapeutics and gave the stock a buy rating in a research report on Monday, April 22nd. Cowen reiterated a buy rating and issued a $31.00 price objective on shares of Amicus Therapeutics in a research report on Thursday, August 1st. HC Wainwright reiterated a buy rating and issued a $18.00 price objective on shares of Amicus Therapeutics in a research report on Thursday, August 1st. Finally, ValuEngine lowered Amicus Therapeutics from a strong-buy rating to a buy rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Amicus Therapeutics currently has a consensus rating of Buy and an average target price of $18.06.

FOLD stock traded up $0.32 during midday trading on Thursday, reaching $10.31. The stock had a trading volume of 43,128 shares, compared to its average volume of 3,414,304. The business has a fifty day simple moving average of $12.09 and a two-hundred day simple moving average of $12.51. The company has a quick ratio of 7.21, a current ratio of 7.09 and a debt-to-equity ratio of 0.31. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -7.72 and a beta of 1.85. Amicus Therapeutics has a twelve month low of $8.27 and a twelve month high of $14.61.



Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.34) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.34). The firm had revenue of $44.13 million during the quarter, compared to analyst estimates of $41.14 million. Amicus Therapeutics had a negative return on equity of 66.79% and a negative net margin of 336.41%. The company’s revenue was up 107.1% on a year-over-year basis. During the same period last year, the company earned ($0.33) earnings per share. On average, equities analysts predict that Amicus Therapeutics will post -1.31 earnings per share for the current fiscal year.

In other Amicus Therapeutics news, CEO John F. Crowley sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $11.15, for a total transaction of $223,000.00. Following the transaction, the chief executive officer now owns 770,399 shares in the company, valued at $8,589,948.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Raab sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $11.16, for a total value of $55,800.00. Following the transaction, the director now owns 13,895 shares in the company, valued at approximately $155,068.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,000 shares of company stock worth $779,000. Company insiders own 2.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of FOLD. Dimensional Fund Advisors LP boosted its holdings in Amicus Therapeutics by 374.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,098,083 shares of the biopharmaceutical company’s stock worth $10,518,000 after buying an additional 866,793 shares during the last quarter. Legal & General Group Plc boosted its holdings in Amicus Therapeutics by 24.4% during the fourth quarter. Legal & General Group Plc now owns 82,835 shares of the biopharmaceutical company’s stock worth $793,000 after buying an additional 16,234 shares during the last quarter. Millennium Management LLC bought a new position in Amicus Therapeutics during the fourth quarter worth about $3,075,000. Norges Bank bought a new position in Amicus Therapeutics during the fourth quarter worth about $14,147,000. Finally, Geode Capital Management LLC boosted its holdings in Amicus Therapeutics by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 2,183,679 shares of the biopharmaceutical company’s stock worth $20,919,000 after buying an additional 180,938 shares during the last quarter.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers Galafold, 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 for indications, including pompe disease.

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Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

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