Amicus Therapeutics (NASDAQ:FOLD) Lowered to “Market Perform” Rating by Leerink Partners

Leerink Partners downgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from an outperform rating to a market perform rating in a report published on Monday morning, MarketBeat Ratings reports. Leerink Partners currently has $14.50 target price on the biopharmaceutical company’s stock, down from their prior target price of $17.00.

FOLD has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Amicus Therapeutics in a report on Monday, December 22nd. Citigroup reissued a “neutral” rating and issued a $14.50 target price (down previously from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. The Goldman Sachs Group boosted their price target on Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Zacks Research raised Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, TD Cowen downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 price objective for the company. in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.67.

Amicus Therapeutics Stock Performance

Shares of Amicus Therapeutics stock opened at $14.25 on Monday. Amicus Therapeutics has a 1 year low of $5.51 and a 1 year high of $14.36. The firm’s 50-day moving average is $10.20 and its 200 day moving average is $8.19. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -356.16 and a beta of 0.46. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.99 and a quick ratio of 2.09.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $169.06 million during the quarter, compared to analyst estimates of $165.24 million. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. Amicus Therapeutics’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. Sell-side analysts anticipate that Amicus Therapeutics will post 0.15 EPS for the current fiscal year.

Insider Transactions at Amicus Therapeutics

In other Amicus Therapeutics news, insider David Michael Clark sold 25,643 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $9.51, for a total value of $243,864.93. Following the transaction, the insider directly owned 322,618 shares of the company’s stock, valued at approximately $3,068,097.18. This trade represents a 7.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bradley L. Campbell sold 77,926 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $10.86, for a total transaction of $846,276.36. Following the sale, the chief executive officer directly owned 1,129,782 shares of the company’s stock, valued at $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. Insiders sold a total of 345,450 shares of company stock worth $3,657,000 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Amicus Therapeutics during the second quarter valued at $18,540,000. Jump Financial LLC increased its position in Amicus Therapeutics by 246.3% in the second quarter. Jump Financial LLC now owns 1,406,563 shares of the biopharmaceutical company’s stock worth $8,060,000 after buying an additional 1,000,395 shares in the last quarter. Advantage Alpha Capital Partners LP bought a new position in shares of Amicus Therapeutics in the second quarter worth about $201,000. 683 Capital Management LLC lifted its position in shares of Amicus Therapeutics by 249.1% during the 2nd quarter. 683 Capital Management LLC now owns 960,000 shares of the biopharmaceutical company’s stock valued at $5,501,000 after buying an additional 685,000 shares in the last quarter. Finally, Redmile Group LLC lifted its position in shares of Amicus Therapeutics by 35.1% during the 1st quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company’s stock valued at $77,795,000 after buying an additional 2,478,779 shares in the last quarter.

About Amicus Therapeutics

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.