Amicus Therapeutics (NASDAQ:FOLD) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a sell rating in a research note released on Thursday, BidAskClub reports.

Several other brokerages also recently commented on FOLD. ValuEngine downgraded Amicus Therapeutics from a strong-buy rating to a buy rating in a research note on Monday, August 12th. HC Wainwright restated a buy rating and issued a $18.00 target price on shares of Amicus Therapeutics in a research note on Thursday, August 1st. Cowen restated a buy rating and issued a $31.00 target price on shares of Amicus Therapeutics in a research note on Thursday, August 1st. Robert W. Baird set a $20.00 target price on Amicus Therapeutics and gave the stock a buy rating in a research note on Monday, April 22nd. Finally, Cantor Fitzgerald restated an overweight rating and issued a $19.00 target price (down previously from $20.00) on shares of Amicus Therapeutics in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $18.06.

Shares of NASDAQ FOLD opened at $10.37 on Thursday. Amicus Therapeutics has a 52 week low of $8.27 and a 52 week high of $14.61. The business has a 50-day simple moving average of $12.06 and a two-hundred day simple moving average of $12.50. The company has a quick ratio of 7.21, a current ratio of 7.09 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.54 billion, a P/E ratio of -7.80 and a beta of 1.85.

Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). Amicus Therapeutics had a negative return on equity of 66.79% and a negative net margin of 336.41%. The business had revenue of $44.13 million during the quarter, compared to the consensus estimate of $41.14 million. During the same quarter last year, the company earned ($0.33) EPS. The firm’s revenue was up 107.1% compared to the same quarter last year. Equities research analysts anticipate that Amicus Therapeutics will post -1.31 EPS for the current year.

In other news, Director Michael Raab sold 5,000 shares of Amicus Therapeutics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $11.16, for a total transaction of $55,800.00. Following the completion of the sale, the director now owns 13,895 shares in the company, valued at approximately $155,068.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John F. Crowley sold 20,000 shares of Amicus Therapeutics stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $11.15, for a total value of $223,000.00. Following the sale, the chief executive officer now owns 770,399 shares of the company’s stock, valued at approximately $8,589,948.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,000 shares of company stock valued at $779,000. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Amicus Therapeutics by 12.7% during the 2nd quarter. Vanguard Group Inc. now owns 22,330,661 shares of the biopharmaceutical company’s stock valued at $278,687,000 after acquiring an additional 2,510,118 shares during the last quarter. Redmile Group LLC boosted its position in shares of Amicus Therapeutics by 135.7% during the 1st quarter. Redmile Group LLC now owns 19,616,062 shares of the biopharmaceutical company’s stock valued at $266,778,000 after acquiring an additional 11,292,845 shares during the last quarter. BlackRock Inc. boosted its position in shares of Amicus Therapeutics by 10.8% during the 2nd quarter. BlackRock Inc. now owns 18,580,413 shares of the biopharmaceutical company’s stock valued at $231,885,000 after acquiring an additional 1,805,661 shares during the last quarter. Marshall Wace North America L.P. boosted its position in shares of Amicus Therapeutics by 4.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 6,708,228 shares of the biopharmaceutical company’s stock valued at $83,718,000 after acquiring an additional 278,209 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Amicus Therapeutics by 64.6% during the 2nd quarter. Morgan Stanley now owns 6,482,718 shares of the biopharmaceutical company’s stock valued at $80,904,000 after buying an additional 2,543,211 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 Galafold, 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 for indications, including pompe disease.

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Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

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