Amicus Therapeutics (FOLD) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a sell rating in a report released on Thursday morning.

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. “

FOLD has been the subject of several other research reports. Guggenheim began coverage on shares of Amicus Therapeutics in a research note on Monday, December 17th. They issued a buy rating and a $18.00 price objective for the company. Cowen reiterated a buy rating and issued a $31.00 price objective on shares of Amicus Therapeutics in a research note on Friday, October 12th. Citigroup began coverage on shares of Amicus Therapeutics in a research note on Monday, October 29th. They issued a neutral rating and a $12.00 price objective for the company. ValuEngine cut shares of Amicus Therapeutics from a strong-buy rating to a buy rating in a research note on Wednesday, January 2nd. Finally, BidaskClub upgraded shares of Amicus Therapeutics from a strong sell rating to a sell rating in a research note on Tuesday, November 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $19.29.

Shares of Amicus Therapeutics stock opened at $11.74 on Thursday. Amicus Therapeutics has a twelve month low of $8.27 and a twelve month high of $17.62. The company has a quick ratio of 9.03, a current ratio of 9.12 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -4.02 and a beta of 1.52.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04). Amicus Therapeutics had a negative return on equity of 52.03% and a negative net margin of 463.82%. The business had revenue of $20.60 million during the quarter, compared to analyst estimates of $23.56 million. During the same quarter last year, the firm earned ($0.41) EPS. Amicus Therapeutics’s revenue for the quarter was up 89.0% compared to the same quarter last year. As a group, equities research analysts expect that Amicus Therapeutics will post -1.22 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Perceptive Advisors LLC raised its position in shares of Amicus Therapeutics by 3.3% in the 3rd quarter. Perceptive Advisors LLC now owns 20,694,424 shares of the biopharmaceutical company’s stock valued at $250,196,000 after buying an additional 670,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Amicus Therapeutics by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 16,807,772 shares of the biopharmaceutical company’s stock valued at $203,205,000 after buying an additional 541,308 shares in the last quarter. Vanguard Group Inc raised its position in shares of Amicus Therapeutics by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 16,807,772 shares of the biopharmaceutical company’s stock valued at $203,205,000 after buying an additional 541,308 shares in the last quarter. BlackRock Inc. raised its position in shares of Amicus Therapeutics by 2.2% in the 3rd quarter. BlackRock Inc. now owns 16,374,336 shares of the biopharmaceutical company’s stock valued at $197,967,000 after buying an additional 357,035 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Amicus Therapeutics by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 8,806,359 shares of the biopharmaceutical company’s stock valued at $106,469,000 after buying an additional 627,972 shares in the last quarter.

Amicus Therapeutics Company Profile

Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.

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