Amicus Therapeutics Inc. (FOLD) Downgraded by Zacks Investment Research to “Sell”
Amicus Therapeutics Inc. (NASDAQ:FOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “AMICUS THERAPEUTICS is a biopharmaceutical company developing novel, oral therapeutics known as pharmacological chaperones for the treatment of a range of human genetic diseases. Pharmacological chaperone technology involves the use of small molecules that selectively bind to and stabilize proteins in cells, leading to improved protein folding and trafficking, and increased activity. Amicus is initially targeting lysosomal storage disorders, which are severe, chronic genetic diseases with unmet medical needs. Amicus has completed Phase 2 clinical trials of Amigal(TM) for the treatment of Fabry disease and is conducting Phase 2 clinical trials of Plicera(TM) for the treatment of Gaucher disease. “
Separately, Chardan Capital set a $15.00 price objective on Amicus Therapeutics and gave the stock a “buy” rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.19.
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Amicus Therapeutics (NASDAQ:FOLD) traded up 4.32% on Tuesday, reaching $7.24. The company had a trading volume of 1,481,739 shares. Amicus Therapeutics has a 52 week low of $4.98 and a 52 week high of $11.78. The company’s market capitalization is $1.03 billion. The stock’s 50-day moving average is $7.26 and its 200-day moving average is $6.90.
Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.07. Equities research analysts forecast that Amicus Therapeutics will post ($1.35) EPS for the current fiscal year.
In other Amicus Therapeutics news, CFO William D. Baird III sold 20,500 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $8.00, for a total transaction of $164,000.00. Following the completion of the sale, the chief financial officer now owns 56,450 shares in the company, valued at $451,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Hung Do sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $7.00, for a total value of $175,000.00. Following the sale, the insider now owns 583,453 shares of the company’s stock, valued at approximately $4,084,171. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. M&T Bank Corp bought a new stake in Amicus Therapeutics during the first quarter worth $157,000. Dynamic Technology Lab Private Ltd bought a new stake in Amicus Therapeutics during the second quarter worth $108,000. Principal Financial Group Inc. raised its stake in Amicus Therapeutics by 10.5% in the second quarter. Principal Financial Group Inc. now owns 22,411 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 2,122 shares in the last quarter. BlackRock Inc. raised its stake in Amicus Therapeutics by 224.8% in the second quarter. BlackRock Inc. now owns 26,443 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 18,301 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC raised its stake in Amicus Therapeutics by 283.9% in the third quarter. Berson & Corrado Investment Advisors LLC now owns 42,995 shares of the biopharmaceutical company’s stock worth $318,000 after buying an additional 31,795 shares in the last quarter. Institutional investors own 99.08% of the company’s stock.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of therapies to treat a range of rare and orphan diseases. Its lead product candidate, migalastat HCl (Galafold), is an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease, which is a type of lysosomal storage disorder (LSD).
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