Amicus Therapeutics (NASDAQ:FOLD) Downgraded to “Hold” Rating by Guggenheim

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by equities research analysts at Guggenheim from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research firms have also weighed in on FOLD. JPMorgan Chase & Co. raised their target price on Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. The Goldman Sachs Group increased their price target on shares of Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday, December 29th. Needham & Company LLC downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, December 19th. Finally, 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 report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Amicus Therapeutics has an average rating of “Hold” and an average target price of $15.67.

Amicus Therapeutics Price Performance

FOLD stock opened at $14.25 on Monday. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -356.16 and a beta of 0.42. 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. The company has a 50 day simple moving average of $10.76 and a 200 day simple moving average of $8.49.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The business had revenue of $169.06 million for the quarter, compared to analyst estimates of $165.24 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. Research analysts anticipate that Amicus Therapeutics will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 77,926 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $10.86, for a total value of $846,276.36. Following the completion of the transaction, the chief executive officer directly owned 1,129,782 shares of the company’s stock, valued at approximately $12,269,432.52. The trade was a 6.45% decrease in their ownership of the stock. The sale 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 Amicus Therapeutics stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $10.16, for a total value of $773,765.28. Following the completion of the sale, the insider owned 439,318 shares in the company, valued at approximately $4,463,470.88. The trade was a 14.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 345,450 shares of company stock valued at $3,657,000. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Amicus Therapeutics by 167.1% in the 4th quarter. GAMMA Investing LLC now owns 1,987 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,243 shares during the last quarter. Allworth Financial LP boosted its stake in Amicus Therapeutics by 36.3% in the third quarter. Allworth Financial LP now owns 4,678 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,246 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Amicus Therapeutics by 0.3% during the third quarter. Allianz Asset Management GmbH now owns 389,109 shares of the biopharmaceutical company’s stock worth $3,066,000 after purchasing an additional 1,333 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Amicus Therapeutics by 35.1% during the third quarter. Van ECK Associates Corp now owns 5,638 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 1,466 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Amicus Therapeutics by 40.2% during the 3rd quarter. Parallel Advisors LLC now owns 5,756 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 1,649 shares during 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.