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

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Amicus Therapeutics from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, August 16th. Cantor Fitzgerald increased their price objective on Amicus Therapeutics from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday. Guggenheim lifted their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday. Bank of America upped their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group started coverage on Amicus Therapeutics in a research report on Friday, September 6th. They issued a "buy" rating and a $18.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Amicus Therapeutics has an average rating of "Moderate Buy" and an average price target of $17.50.

Amicus Therapeutics Price Performance

NASDAQ FOLD traded up $0.01 on Friday, reaching $10.99. 2,096,770 shares of the stock traded hands, compared to its average volume of 2,730,403. Amicus Therapeutics has a 12 month low of $9.02 and a 12 month high of $14.57. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -32.32 and a beta of 0.68. The firm's fifty day simple moving average is $11.13 and its 200 day simple moving average is $10.61. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93.

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The business had revenue of $126.67 million during the quarter, compared to analysts' expectations of $121.21 million. During the same quarter last year, the business posted ($0.15) earnings per share. The company's quarterly revenue was up 34.0% on a year-over-year basis. As a group, research analysts predict that Amicus Therapeutics will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total transaction of $79,500.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company's stock, valued at $9,398,532.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Bradley L. Campbell sold 7,901 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total value of $98,762.50. Following the transaction, the chief executive officer now directly owns 886,654 shares of the company's stock, valued at approximately $11,083,175. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total value of $79,500.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company's stock, valued at approximately $9,398,532.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,401 shares of company stock valued at $352,038. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Amicus Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FOLD. OLD Second National Bank of Aurora acquired a new position in Amicus Therapeutics in the third quarter worth approximately $26,000. Hazlett Burt & Watson Inc. grew its position in Amicus Therapeutics by 156.9% in the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 1,569 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Amicus Therapeutics by 1,705.4% during the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company's stock worth $30,000 after purchasing an additional 2,831 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Amicus Therapeutics during the 3rd quarter valued at $32,000. Finally, Headlands Technologies LLC bought a new position in shares of Amicus Therapeutics during the 2nd quarter valued at $89,000.

Amicus Therapeutics Company Profile

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.