Amicus Therapeutics (NASDAQ:FOLD) Downgraded by TD Cowen to “Hold”

TD Cowen lowered shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a research report report published on Monday morning, MarketBeat.com reports. TD Cowen currently has $14.50 price target on the biopharmaceutical company’s stock.

Several other research analysts have also weighed in on FOLD. JPMorgan Chase & Co. upped their price target on Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 15th. The Goldman Sachs Group upped their target price on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Wall Street Zen raised shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research upgraded shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.81.

Amicus Therapeutics Stock Up 0.2%

FOLD stock opened at $14.21 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.99 and a quick ratio of 2.09. The firm has a market capitalization of $4.38 billion, a P/E ratio of -355.16 and a beta of 0.46. Amicus Therapeutics has a 52-week low of $5.51 and a 52-week high of $14.36. The company’s 50 day simple moving average is $9.60 and its 200-day simple moving average is $7.91.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. The firm had revenue of $169.06 million for the quarter, compared to analysts’ expectations of $165.24 million. During the same period in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Amicus Therapeutics will post 0.15 EPS for the current year.

Insider Buying and Selling at Amicus Therapeutics

In other news, insider David Michael Clark sold 25,643 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $11.00, for a total value of $282,073.00. Following the sale, the insider directly owned 271,332 shares of the company’s stock, valued at approximately $2,984,652. This trade represents a 8.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bradley L. Campbell sold 77,926 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $10.86, for a total transaction of $846,276.36. Following the completion of the sale, the chief executive officer owned 1,129,782 shares in the company, valued at approximately $12,269,432.52. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 319,808 shares of company stock valued at $3,293,653. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vestal Point Capital LP boosted its stake in Amicus Therapeutics by 178.4% in the 2nd quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock valued at $68,187,000 after buying an additional 7,625,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Amicus Therapeutics during the 2nd quarter worth about $18,540,000. Assenagon Asset Management S.A. lifted its holdings in Amicus Therapeutics by 641.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,533,854 shares of the biopharmaceutical company’s stock valued at $20,249,000 after purchasing an additional 3,057,072 shares during the last quarter. Millennium Management LLC boosted its position in Amicus Therapeutics by 635.1% in the first quarter. Millennium Management LLC now owns 3,359,389 shares of the biopharmaceutical company’s stock valued at $27,413,000 after buying an additional 2,902,375 shares in the last quarter. Finally, Redmile Group LLC grew its stake in Amicus Therapeutics by 35.1% during the first quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company’s stock worth $77,795,000 after buying an additional 2,478,779 shares during the last quarter.

Amicus Therapeutics News Roundup

Here are the key news stories impacting Amicus Therapeutics this week:

• Positive Sentiment: BioMarin announced a proposed $4.8 billion acquisition of Amicus — a material corporate event that typically carries a takeover premium for target shareholders and is the primary bullish driver for FOLD today. A $4.8 Billion Reason to Buy BioMarin Stock Today
• Positive Sentiment: Amicus cleared a key technical benchmark, earning a 90+ Relative Strength (RS) rating — a sign of strong momentum that can attract momentum and technical traders. Amicus Therapeutics clears key benchmark, hitting 90-plus RS rating
• Neutral Sentiment: Citigroup reaffirmed a “neutral” rating and set a $14.50 price target (revised down from $17.00), signaling limited upside from the current level absent a higher takeout price. Citigroup Neutral Rating / Price Target
• Negative Sentiment: TD Cowen downgraded Amicus from Buy to Hold with a $14.50 target, closing the gap on analyst enthusiasm and implying modest upside from current trading levels if the takeout is not completed at a significant premium. Amicus (FOLD) was downgraded to a Hold Rating at TD Cowen
• Negative Sentiment: Cantor Fitzgerald and Needham & Company also downgraded Amicus to Hold — additional analyst downgrades increase near-term selling pressure and reduce conviction among institutional holders unless the deal is finalized at an attractive price. Cantor Fitzgerald Downgrades Amicus Therapeutics Needham & Company LLC Downgrades Amicus Therapeutics

Amicus Therapeutics Company Profile

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.