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

StockNews.com cut shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a research report released on Thursday.

FOLD has been the subject of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price objective on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Guggenheim boosted their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. lifted their target price on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Amicus Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $16.75.

Amicus Therapeutics Price Performance

FOLD opened at $9.07 on Thursday. The firm has a 50-day moving average price of $9.56 and a 200-day moving average price of $10.41. Amicus Therapeutics has a twelve month low of $8.78 and a twelve month high of $14.02. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -26.68, a PEG ratio of 1.65 and a beta of 0.61.

Insider Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $10.02, for a total value of $75,150.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $8,884,273.08. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently added to or reduced their stakes in FOLD. Wellington Management Group LLP raised its holdings in shares of Amicus Therapeutics by 13.5% during the 3rd quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock valued at $255,936,000 after buying an additional 2,856,101 shares in the last quarter. Tempus Wealth Planning LLC bought a new position in Amicus Therapeutics during the fourth quarter valued at approximately $259,000. Neo Ivy Capital Management purchased a new position in shares of Amicus Therapeutics during the third quarter worth approximately $702,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Amicus Therapeutics by 51.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,934 shares of the biopharmaceutical company’s stock worth $2,381,000 after acquiring an additional 75,807 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Amicus Therapeutics by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company’s stock valued at $28,486,000 after purchasing an additional 242,672 shares in the last quarter.

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.