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

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

Several other equities analysts also recently weighed in on FOLD. Jefferies Financial Group assumed coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. 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 research note on Thursday, October 17th. Finally, Guggenheim boosted their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Stock Up 1.7 %

Amicus Therapeutics stock opened at $9.73 on Wednesday. The business’s 50-day simple moving average is $10.49 and its two-hundred day simple moving average is $10.61. The company has a debt-to-equity ratio of 2.18, a quick ratio of 2.42 and a current ratio of 3.15. The company has a market cap of $2.91 billion, a PE ratio of -28.62 and a beta of 0.60. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57.

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $9,398,532.40. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 30,401 shares of company stock worth $339,363. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. OLD Second National Bank of Aurora acquired a new stake in Amicus Therapeutics in the 3rd quarter worth about $26,000. Hazlett Burt & Watson Inc. lifted its position in shares of Amicus Therapeutics by 156.9% in the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,569 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Amicus Therapeutics by 1,705.4% in the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 2,831 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Amicus Therapeutics during the third quarter worth approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Amicus Therapeutics in the 3rd quarter valued at $55,000.

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.