Amicus Therapeutics (NASDAQ:FOLD) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Amicus Therapeutics (NASDAQ:FOLD - Free Report) from a buy rating to a hold rating in a report published on Thursday.

Other equities research analysts have also recently issued reports about the stock. Bank of America lifted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $20.00 price objective on shares of Amicus Therapeutics in a research report on Friday, September 20th. Morgan Stanley decreased their price objective on shares of Amicus Therapeutics from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, October 11th. Jefferies Financial Group began coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They issued a "buy" rating and a $18.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Amicus Therapeutics from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Amicus Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $17.13.

Amicus Therapeutics Stock Down 1.4 %

FOLD stock traded down $0.16 during midday trading on Thursday, hitting $11.42. The company's stock had a trading volume of 1,741,932 shares, compared to its average volume of 2,715,725. 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 has a 52-week low of $9.02 and a 52-week high of $14.57. The firm has a market capitalization of $3.39 billion, a P/E ratio of -29.28 and a beta of 0.69. The firm has a 50-day simple moving average of $11.16 and a 200-day simple moving average of $10.57.

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

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total value of $87,825.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company's stock, valued at approximately $10,382,718.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Old West Investment Management LLC increased its stake in shares of Amicus Therapeutics by 617.2% during the third quarter. Old West Investment Management LLC now owns 340,441 shares of the biopharmaceutical company's stock worth $3,636,000 after acquiring an additional 292,976 shares during the period. AlphaCentric Advisors LLC increased its stake in shares of Amicus Therapeutics by 1.2% during the third quarter. AlphaCentric Advisors LLC now owns 205,000 shares of the biopharmaceutical company's stock worth $2,189,000 after acquiring an additional 2,500 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Amicus Therapeutics by 156.9% during 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 during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Amicus Therapeutics during the third quarter worth about $32,000. Finally, Fullcircle Wealth LLC acquired a new position in shares of Amicus Therapeutics during the third quarter worth about $136,000.

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.