Amicus Therapeutics, Inc. (NASDAQ:FOLD) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.
Several other equities research analysts also recently commented on FOLD. Chardan Capital upped their target price on shares of Amicus Therapeutics from $12.50 to $17.50 and gave the company a “buy” rating in a research note on Thursday. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of Amicus Therapeutics in a research note on Wednesday. Robert W. Baird upped their target price on shares of Amicus Therapeutics from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, July 12th. Cowen and Company reaffirmed a “buy” rating and issued a $16.00 target price (up previously from $10.00) on shares of Amicus Therapeutics in a research note on Tuesday, July 11th. Finally, ValuEngine raised shares of Amicus Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.58.
Shares of Amicus Therapeutics (FOLD) traded down 1.53% during mid-day trading on Friday, reaching $11.56. 1,588,066 shares of the company were exchanged. The firm has a 50-day moving average price of $12.15 and a 200 day moving average price of $8.44. Amicus Therapeutics has a 12 month low of $4.41 and a 12 month high of $14.05. The stock’s market capitalization is $1.90 billion.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. The business had revenue of $7.16 million during the quarter, compared to the consensus estimate of $6.96 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. Equities research analysts anticipate that Amicus Therapeutics will post ($1.41) EPS for the current fiscal year.
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In other news, insider Jay Barth sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $10.00, for a total value of $300,000.00. Following the completion of the transaction, the insider now owns 64,184 shares in the company, valued at $641,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hung Do sold 29,914 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $8.00, for a total transaction of $239,312.00. Following the completion of the transaction, the insider now owns 474,438 shares of the company’s stock, valued at approximately $3,795,504. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. bought a new position in Amicus Therapeutics during the first quarter valued at $399,000. Trexquant Investment LP bought a new position in Amicus Therapeutics during the first quarter valued at $496,000. UBS Asset Management Americas Inc. boosted its position in Amicus Therapeutics by 71.8% in the first quarter. UBS Asset Management Americas Inc. now owns 50,674 shares of the biopharmaceutical company’s stock valued at $361,000 after buying an additional 21,174 shares during the period. Bank of New York Mellon Corp boosted its position in Amicus Therapeutics by 12.5% in the first quarter. Bank of New York Mellon Corp now owns 672,463 shares of the biopharmaceutical company’s stock valued at $4,794,000 after buying an additional 74,700 shares during the period. Finally, Princeton Alpha Management LP bought a new position in Amicus Therapeutics during the first quarter valued at $106,000.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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