Amicus Therapeutics (NASDAQ:FOLD) Lowered to Market Perform Rating by Leerink Partners

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by Leerink Partners from an “outperform” rating to a “market perform” rating in a report released on Monday, MarketBeat.com reports. They currently have a $14.50 target price on the biopharmaceutical company’s stock. Leerink Partners’ price objective suggests a potential upside of 1.75% from the company’s current price.

Several other equities research analysts have also commented on the stock. Zacks Research upgraded shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Cantor Fitzgerald cut Amicus Therapeutics from an “overweight” rating to a “hold” rating and dropped their target price for the company from $21.00 to $14.50 in a research report on Friday, December 19th. Wall Street Zen upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group upped their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, TD Cowen downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 price objective on the stock. in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.67.

Amicus Therapeutics Price Performance

Amicus Therapeutics stock opened at $14.25 on Monday. The firm has a market capitalization of $4.40 billion, a PE ratio of -356.16 and a beta of 0.46. The firm has a 50-day moving average price of $10.08 and a 200-day moving average price of $8.13. Amicus Therapeutics has a 12-month low of $5.51 and a 12-month high of $14.36. The company has a current ratio of 2.99, a quick ratio of 2.09 and a debt-to-equity ratio of 1.70.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The firm had revenue of $169.06 million during the quarter, compared to analyst estimates of $165.24 million. During the same period last year, the company earned $0.10 EPS. Amicus Therapeutics’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts forecast that Amicus Therapeutics will post 0.15 EPS for the current year.

Insider Activity at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 77,926 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $10.86, for a total transaction of $846,276.36. Following the sale, the chief executive officer directly owned 1,129,782 shares of the company’s stock, valued at $12,269,432.52. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff Castelli sold 76,158 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $10.16, for a total value of $773,765.28. Following the completion of the transaction, the insider owned 439,318 shares of the company’s stock, valued at $4,463,470.88. This trade represents a 14.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 345,450 shares of company stock worth $3,657,000. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amicus Therapeutics

A number of large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Amicus Therapeutics in the 2nd quarter valued at $18,540,000. Jump Financial LLC lifted its holdings in Amicus Therapeutics by 246.3% during the second quarter. Jump Financial LLC now owns 1,406,563 shares of the biopharmaceutical company’s stock valued at $8,060,000 after purchasing an additional 1,000,395 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Amicus Therapeutics in the second quarter valued at about $201,000. 683 Capital Management LLC grew its position in shares of Amicus Therapeutics by 249.1% in the second quarter. 683 Capital Management LLC now owns 960,000 shares of the biopharmaceutical company’s stock valued at $5,501,000 after purchasing an additional 685,000 shares during the period. Finally, Redmile Group LLC increased its stake in shares of Amicus Therapeutics by 35.1% during the first quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company’s stock worth $77,795,000 after purchasing an additional 2,478,779 shares in the last quarter.

Amicus Therapeutics Company Profile

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.