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

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

FOLD has been the topic of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Bank of America lifted their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley dropped their target price on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Cantor Fitzgerald boosted their price target on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group started coverage on Amicus Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Amicus Therapeutics Price Performance

Shares of NASDAQ:FOLD opened at $10.99 on Friday. The firm has a market capitalization of $3.26 billion, a PE ratio of -32.32 and a beta of 0.68. The company has a current ratio of 2.75, a quick ratio of 2.26 and a debt-to-equity ratio of 2.93. 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 $11.13 and its 200-day moving average is $10.61.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). Amicus Therapeutics had a negative net margin of 21.21% and a negative return on equity of 17.03%. The firm had revenue of $126.67 million for the quarter, compared to the consensus estimate of $121.21 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The business’s revenue was up 34.0% compared to the same quarter last year. Sell-side analysts predict that Amicus Therapeutics will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on 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 directly owns 886,654 shares in the company, 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 filing with the SEC, which is available through this link. In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,901 shares of the company’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 transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $11,083,175. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Tuesday, October 1st. The shares were 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 directly owns 886,654 shares of the company’s stock, valued at $9,398,532.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,401 shares of company stock valued at $352,038. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several large investors have recently made changes to their positions in FOLD. OLD Second National Bank of Aurora acquired a new stake in Amicus Therapeutics in the third quarter worth about $26,000. Hazlett Burt & Watson Inc. grew its position in shares of Amicus Therapeutics by 156.9% during the 3rd 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 during the period. Blue Trust Inc. grew its position in shares of Amicus Therapeutics by 1,705.4% during the 3rd 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 during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Amicus Therapeutics during the third quarter worth approximately $32,000. Finally, Headlands Technologies LLC acquired a new position in Amicus Therapeutics in the second quarter valued at approximately $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.