Amicus Therapeutics (NASDAQ:FOLD) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Amicus Therapeutics (NASDAQ:FOLD) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Citigroup reiterated a “neutral” rating and set a $14.50 target price (down from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. Needham & Company LLC downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 19th. The Goldman Sachs Group raised their price target on Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald lowered Amicus Therapeutics from an “overweight” rating to a “hold” rating and decreased their price objective for the company from $21.00 to $14.50 in a research report on Friday, December 19th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.55.

Amicus Therapeutics Price Performance

Amicus Therapeutics stock opened at $14.28 on Monday. The company has a current ratio of 2.99, a quick ratio of 2.09 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $4.48 billion, a P/E ratio of -356.91 and a beta of 0.42. The business has a 50-day moving average of $12.51 and a 200-day moving average of $9.46. Amicus Therapeutics has a 1 year low of $5.51 and a 1 year high of $14.38.

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, topping the consensus estimate of $0.12 by $0.05. The business had revenue of $169.06 million for 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 quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. On average, equities analysts anticipate that Amicus Therapeutics will post 0.15 EPS for the current year.

Insider Transactions at Amicus Therapeutics

In other news, insider Ellen Rosenberg sold 23,621 shares of Amicus Therapeutics stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $10.00, for a total value of $236,210.00. Following the sale, the insider directly owned 507,710 shares in the company, valued at $5,077,100. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff Castelli sold 76,158 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $10.16, for a total transaction of $773,765.28. Following the completion of the sale, the insider directly owned 439,318 shares in the company, valued at approximately $4,463,470.88. This represents a 14.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 420,450 shares of company stock worth $4,730,250. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amicus Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its stake in shares of Amicus Therapeutics by 450.1% in the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 3,358 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Amicus Therapeutics by 472.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,677 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Amicus Therapeutics by 2,651.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,871 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,803 shares during the period. GAMMA Investing LLC increased its stake in shares of Amicus Therapeutics by 167.1% during the 4th quarter. GAMMA Investing LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Amicus Therapeutics during the 1st quarter worth about $30,000.

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.