Amicus Therapeutics (NASDAQ:FOLD) Rating Lowered to Hold at StockNews.com

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

FOLD has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Morgan Stanley reissued an “equal weight” rating and issued a $12.00 target price (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Cantor Fitzgerald upped their price target on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. Finally, Bank of America boosted their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Amicus Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $16.88.

Amicus Therapeutics Trading Down 0.1 %

Shares of Amicus Therapeutics stock opened at $9.89 on Wednesday. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57. 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 business has a 50-day moving average price of $10.51 and a 200-day moving average price of $10.62. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -29.09 and a beta of 0.60.

Insider Buying and Selling

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.02, for a total transaction of $75,150.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $8,884,273.08. This represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 30,401 shares of company stock valued at $339,363 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in Amicus Therapeutics by 13.5% in the third quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock worth $255,936,000 after purchasing an additional 2,856,101 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Amicus Therapeutics in the third quarter worth $702,000. Fiera Capital Corp increased its position in shares of Amicus Therapeutics by 1.1% during the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock worth $52,382,000 after purchasing an additional 58,113 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amicus Therapeutics by 10.0% during 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 during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Amicus Therapeutics by 51.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,934 shares of the biopharmaceutical company’s stock valued at $2,381,000 after purchasing an additional 75,807 shares during 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.