Amicus Therapeutics Inc. (FOLD) Rating Lowered to Sell at Zacks Investment Research
Amicus Therapeutics Inc. (NASDAQ:FOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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 target on Amicus Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Amicus Therapeutics presently has an average rating of “Buy” and a consensus price target of $12.19.
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Shares of Amicus Therapeutics (NASDAQ:FOLD) traded up 4.32% during trading on Tuesday, hitting $7.24. 1,481,739 shares of the stock were exchanged. The stock’s 50 day moving average price is $7.26 and its 200 day moving average price is $6.90. The stock’s market cap is $1.03 billion. Amicus Therapeutics has a one year low of $4.98 and a one year high of $11.78.
Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.33) by $0.07. Equities research analysts predict that Amicus Therapeutics will post ($1.35) EPS for the current year.
In other news, insider Perceptive Advisors Llc sold 1,100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $6.81, for a total value of $7,491,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William D. Baird III sold 20,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $8.00, for a total value of $164,000.00. Following the completion of the sale, the chief financial officer now owns 56,450 shares of the company’s stock, valued at $451,600. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. Teachers Advisors Inc. increased its stake in shares of Amicus Therapeutics by 1.0% in the first quarter. Teachers Advisors Inc. now owns 173,294 shares of the biopharmaceutical company’s stock worth $1,464,000 after buying an additional 1,750 shares during the period. BlackRock Fund Advisors increased its stake in shares of Amicus Therapeutics by 1.6% in the first quarter. BlackRock Fund Advisors now owns 5,444,399 shares of the biopharmaceutical company’s stock worth $46,005,000 after buying an additional 83,654 shares during the period. M&T Bank Corp purchased a new stake in shares of Amicus Therapeutics during the first quarter worth $157,000. UBS Group AG increased its stake in shares of Amicus Therapeutics by 37.7% in the first quarter. UBS Group AG now owns 88,282 shares of the biopharmaceutical company’s stock worth $746,000 after buying an additional 24,155 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of Amicus Therapeutics by 101.9% in the first quarter. Squarepoint Ops LLC now owns 83,600 shares of the biopharmaceutical company’s stock worth $706,000 after buying an additional 42,200 shares during the period. Institutional investors and hedge funds own 99.08% of the company’s stock.
About Amicus Therapeutics
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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