StockNews.com lowered shares of Amicus Therapeutics (NASDAQ:FOLD – Free Report) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.
Several other brokerages also recently commented on FOLD. Morgan Stanley cut their price target on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Amicus Therapeutics in a report on Friday, September 20th. Jefferies Financial Group started coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Finally, Bank of America raised their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.13.
View Our Latest Stock Analysis on FOLD
Amicus Therapeutics Price Performance
Amicus Therapeutics (NASDAQ:FOLD – Get Free Report) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The business had revenue of $126.67 million during the quarter, compared to analyst estimates of $121.21 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. Equities research analysts anticipate that Amicus Therapeutics will post -0.06 earnings per share for the current year.
Insider Activity
In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $9,398,532.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Amicus Therapeutics
A number of large investors have recently bought and sold shares of the stock. Old West Investment Management LLC boosted 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 valued at $3,636,000 after purchasing an additional 292,976 shares during the period. AlphaCentric Advisors LLC raised its holdings in Amicus Therapeutics by 1.2% during the 3rd quarter. AlphaCentric Advisors LLC now owns 205,000 shares of the biopharmaceutical company’s stock valued at $2,189,000 after buying an additional 2,500 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in Amicus Therapeutics by 156.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 1,569 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Amicus Therapeutics in the 3rd quarter worth $32,000. Finally, Fullcircle Wealth LLC purchased a new position in shares of Amicus Therapeutics in the third quarter valued at about $136,000.
About Amicus Therapeutics
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.
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