Amicus Therapeutics (NASDAQ:FOLD) Stock Rating Lowered by Leerink Partners

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by investment analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a $14.50 price objective on the biopharmaceutical company’s stock. Leerink Partners’ price target points to a potential upside of 1.75% from the company’s previous close.

Several other brokerages also recently issued reports on FOLD. The Goldman Sachs Group upped their price target on shares of Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. TD Cowen downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 target price for the company. in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 22nd. Cantor Fitzgerald cut shares of Amicus Therapeutics from an “overweight” rating to a “hold” rating and cut their price objective for the stock from $21.00 to $14.50 in a research report on Friday, December 19th. Finally, Wall Street Zen raised shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.67.

Amicus Therapeutics Stock Performance

Shares of Amicus Therapeutics stock opened at $14.25 on Monday. The business has a fifty day simple moving average of $10.08 and a two-hundred day simple moving average of $8.13. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -356.16 and a beta of 0.46. Amicus Therapeutics has a 1 year low of $5.51 and a 1 year high of $14.36. 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 results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $169.06 million for 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%. Amicus Therapeutics’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. Research analysts forecast that Amicus Therapeutics will post 0.15 EPS for the current 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 on Wednesday, November 26th. The stock was 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 of the company’s stock, valued at approximately $5,077,100. The trade was a 4.45% 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, insider Jeff Castelli sold 76,158 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $10.16, for a total transaction of $773,765.28. Following the sale, the insider owned 439,318 shares of the company’s stock, valued at approximately $4,463,470.88. This represents a 14.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 345,450 shares of company stock worth $3,657,000 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP boosted its position in shares of Amicus Therapeutics by 178.4% during the second quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock valued at $68,187,000 after buying an additional 7,625,000 shares during the last quarter. Norges Bank purchased a new position in shares of Amicus Therapeutics during the 2nd quarter valued at about $18,540,000. Assenagon Asset Management S.A. increased its holdings in Amicus Therapeutics by 641.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,533,854 shares of the biopharmaceutical company’s stock worth $20,249,000 after acquiring an additional 3,057,072 shares in the last quarter. Millennium Management LLC increased its stake in shares of Amicus Therapeutics by 635.1% in the first quarter. Millennium Management LLC now owns 3,359,389 shares of the biopharmaceutical company’s stock worth $27,413,000 after purchasing an additional 2,902,375 shares in the last quarter. Finally, Redmile Group LLC lifted its position in shares of Amicus Therapeutics by 35.1% in the first quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company’s stock valued at $77,795,000 after acquiring 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.