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

StockNews.com downgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a research report released on Wednesday morning.

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

Amicus Therapeutics Stock Down 3.2 %

NASDAQ FOLD opened at $9.57 on Wednesday. Amicus Therapeutics has a 12 month low of $9.02 and a 12 month high of $14.57. The company has a market capitalization of $2.86 billion, a P/E ratio of -28.15 and a beta of 0.60. The company’s 50 day simple moving average is $10.50 and its 200 day simple moving average is $10.61. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42.

Insider Transactions at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $9,398,532.40. The trade was a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 30,401 shares of company stock worth $339,363 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Amicus Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaCentric Advisors LLC boosted its position in Amicus Therapeutics by 15.7% in the 2nd quarter. AlphaCentric Advisors LLC now owns 202,500 shares of the biopharmaceutical company’s stock valued at $2,009,000 after buying an additional 27,500 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Amicus Therapeutics by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,245,115 shares of the biopharmaceutical company’s stock worth $12,352,000 after purchasing an additional 82,065 shares during the last quarter. Legato Capital Management LLC boosted its stake in shares of Amicus Therapeutics by 864.0% in the 2nd quarter. Legato Capital Management LLC now owns 101,703 shares of the biopharmaceutical company’s stock valued at $1,009,000 after purchasing an additional 91,153 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Amicus Therapeutics by 6.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,471 shares of the biopharmaceutical company’s stock valued at $501,000 after buying an additional 2,918 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Amicus Therapeutics by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 240,813 shares of the biopharmaceutical company’s stock valued at $2,389,000 after purchasing an additional 2,737 shares during the period.

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.