Amicus Therapeutics (NASDAQ:FOLD) Rating Lowered to “Hold” at Guggenheim

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by equities research analysts at Guggenheim from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday, December 29th. Cantor Fitzgerald downgraded Amicus Therapeutics from an “overweight” rating to a “hold” rating and reduced their price target for the stock from $21.00 to $14.50 in a research report on Friday, December 19th. Needham & Company LLC cut Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, December 19th. Leerink Partners downgraded Amicus Therapeutics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $17.00 to $14.50 in a research note on Monday, December 29th. Finally, TD Cowen lowered Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 target price on the stock. in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $15.67.

Amicus Therapeutics Price Performance

Shares of FOLD stock opened at $14.27 on Monday. Amicus Therapeutics has a 1-year low of $5.51 and a 1-year high of $14.36. The stock’s 50-day moving average is $10.87 and its 200 day moving average is $8.55. The company has a market cap of $4.40 billion, a P/E ratio of -356.54 and a beta of 0.42. 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 announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $169.06 million during the quarter, compared to the consensus estimate of $165.24 million. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Research analysts predict that Amicus Therapeutics will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Amicus Therapeutics

In other Amicus Therapeutics news, insider Ellen Rosenberg sold 23,621 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $10.00, for a total transaction of $236,210.00. Following the sale, the insider owned 507,710 shares in the company, valued at approximately $5,077,100. The trade was a 4.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff Castelli sold 76,158 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $10.16, for a total value of $773,765.28. Following the completion of the transaction, the insider owned 439,318 shares of the company’s stock, valued at approximately $4,463,470.88. The trade was a 14.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 345,450 shares of company stock worth $3,657,000. 2.20% of the stock is owned by insiders.

Institutional Trading of Amicus Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of FOLD. Vident Advisory LLC acquired a new stake in shares of Amicus Therapeutics in the first quarter worth $102,000. Millennium Management LLC boosted its holdings 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 purchasing an additional 2,902,375 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Amicus Therapeutics by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,577 shares of the biopharmaceutical company’s stock worth $22,061,000 after purchasing an additional 194,213 shares during the period. Caxton Associates LLP acquired a new stake in Amicus Therapeutics during the 1st quarter worth about $474,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Amicus Therapeutics by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,072,474 shares of the biopharmaceutical company’s stock valued at $8,751,000 after buying an additional 113,803 shares during the last quarter.

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.