Amicus Therapeutics Inc. (FOLD) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “AMICUS THERAPEUTICS is a biopharmaceutical company developing novel, oral therapeutics known as pharmacological chaperones for the treatment of a range of human genetic diseases. Pharmacological chaperone technology involves the use of small molecules that selectively bind to and stabilize proteins in cells, leading to improved protein folding and trafficking, and increased activity. Amicus is initially targeting lysosomal storage disorders, which are severe, chronic genetic diseases with unmet medical needs. Amicus has completed Phase 2 clinical trials of Amigal(TM) for the treatment of Fabry disease and is conducting Phase 2 clinical trials of Plicera(TM) for the treatment of Gaucher disease. “
Several other equities research analysts also recently weighed in on the stock. Chardan Capital set a $15.00 target price on shares of Amicus Therapeutics and gave the company a buy rating in a research note on Thursday, August 11th. Leerink Swann reissued a buy rating and issued a $17.00 target price on shares of Amicus Therapeutics in a research note on Tuesday, November 8th. Finally, Cowen and Company reissued an outperform rating and issued a $15.00 target price on shares of Amicus Therapeutics in a research note on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $12.19.
Amicus Therapeutics (NASDAQ:FOLD) opened at 9.23 on Wednesday. The stock’s market capitalization is $1.31 billion. Amicus Therapeutics has a 12 month low of $4.98 and a 12 month high of $11.78. The company’s 50-day moving average is $7.76 and its 200-day moving average is $6.94.
Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.01. The business had revenue of $2.10 million for the quarter, compared to analysts’ expectations of $1.71 million. Equities research analysts forecast that Amicus Therapeutics will post ($1.38) EPS for the current year.
In other news, CFO William D. Baird III sold 20,500 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $8.00, for a total value of $164,000.00. Following the sale, the chief financial officer now directly owns 56,450 shares in the company, valued at approximately $451,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hung Do sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $7.25, for a total transaction of $181,250.00. Following the completion of the sale, the insider now owns 558,453 shares in the company, valued at $4,048,784.25. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in FOLD. Teachers Advisors Inc. boosted its stake in Amicus Therapeutics by 1.0% in the first quarter. Teachers Advisors Inc. now owns 173,294 shares of the biopharmaceutical company’s stock worth $1,464,000 after buying an additional 1,750 shares in the last quarter. UBS Group AG boosted its stake in Amicus Therapeutics by 37.7% in the first quarter. UBS Group AG now owns 88,282 shares of the biopharmaceutical company’s stock worth $746,000 after buying an additional 24,155 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Amicus Therapeutics by 101.9% in the first quarter. Squarepoint Ops LLC now owns 83,600 shares of the biopharmaceutical company’s stock worth $706,000 after buying an additional 42,200 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Amicus Therapeutics by 12.3% in the second quarter. GW&K Investment Management LLC now owns 468,708 shares of the biopharmaceutical company’s stock worth $2,559,000 after buying an additional 51,273 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in Amicus Therapeutics by 14.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 709,900 shares of the biopharmaceutical company’s stock worth $3,876,000 after buying an additional 90,000 shares in the last quarter.
About Amicus Therapeutics
Amicus Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of therapies to treat a range of rare and orphan diseases. Its lead product candidate, migalastat HCl (Galafold), is an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease, which is a type of lysosomal storage disorder (LSD).
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