StockNews.com cut shares of Amicus Therapeutics (NASDAQ:FOLD – Free Report) from a buy rating to a hold rating in a report published on Thursday morning.
Other research analysts also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Jefferies Financial Group assumed coverage on Amicus Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Bank of America upped their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Amicus Therapeutics in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.13.
Amicus Therapeutics Stock Down 1.4 %
Amicus Therapeutics (NASDAQ:FOLD – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $121.21 million. During the same period last year, the company earned ($0.15) earnings per share. Amicus Therapeutics’s quarterly revenue was up 34.0% on a year-over-year basis. On average, research analysts expect that Amicus Therapeutics will post -0.06 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total transaction of $79,500.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $9,398,532.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On Amicus Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. increased its stake in shares of Amicus Therapeutics by 156.9% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,569 shares during the last quarter. Blue Trust Inc. grew its position in Amicus Therapeutics by 1,705.4% in the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 2,831 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Amicus Therapeutics during the third quarter worth about $32,000. Headlands Technologies LLC acquired a new position in Amicus Therapeutics during the second quarter worth about $89,000. Finally, Sage Capital Advisors llc bought a new position in shares of Amicus Therapeutics in the second quarter worth about $103,000.
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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