Amicus Therapeutics (NASDAQ:FOLD) Cut to Hold at TD Cowen

TD Cowen lowered shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have $14.50 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also recently commented on the company. Wall Street Zen upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Citigroup restated a “neutral” rating and set a $14.50 price objective (down from $17.00) on shares of Amicus Therapeutics in a report on Monday. Needham & Company LLC lowered Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 15th. Finally, Zacks Research raised shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Amicus Therapeutics currently has a consensus rating of “Hold” and an average price target of $15.81.

Amicus Therapeutics Price Performance

Shares of FOLD stock opened at $14.23 on Monday. The firm has a fifty day simple moving average of $9.84 and a 200-day simple moving average of $8.01. The company has a market capitalization of $4.39 billion, a PE ratio of -355.54 and a beta of 0.46. Amicus Therapeutics has a twelve month low of $5.51 and a twelve 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 data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $169.06 million for the quarter, compared to analyst estimates of $165.24 million. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. Equities research analysts anticipate that Amicus Therapeutics will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Amicus Therapeutics

In related news, insider David Michael Clark sold 25,642 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $14.17, for a total transaction of $363,347.14. Following the sale, the insider directly owned 245,690 shares of the company’s stock, valued at approximately $3,481,427.30. This represents a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Bradley L. Campbell sold 77,926 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $10.86, for a total value of $846,276.36. Following the transaction, the chief executive officer owned 1,129,782 shares in the company, valued at $12,269,432.52. This trade represents a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 345,450 shares of company stock valued at $3,657,000 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in shares of Amicus Therapeutics in the 3rd quarter valued at about $43,000. Tudor Investment Corp ET AL raised its stake in Amicus Therapeutics by 5.9% during the third quarter. Tudor Investment Corp ET AL now owns 168,984 shares of the biopharmaceutical company’s stock worth $1,332,000 after acquiring an additional 9,487 shares during the period. Allworth Financial LP lifted its holdings in Amicus Therapeutics by 36.3% in the third quarter. Allworth Financial LP now owns 4,678 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,246 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new position in Amicus Therapeutics in the third quarter valued at approximately $83,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Amicus Therapeutics during the third quarter valued at approximately $234,000.

About Amicus Therapeutics

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.