Amicus Therapeutics, Inc. (FOLD) Downgraded by Zacks Investment Research to Hold
Amicus Therapeutics, Inc. (NASDAQ:FOLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
A number of other analysts also recently commented on the company. BidaskClub upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Robert W. Baird restated an “outperform” rating and issued a $12.00 target price on shares of Amicus Therapeutics in a research note on Friday, June 30th. Chardan Capital restated a “buy” rating and issued a $16.50 target price (down previously from $17.50) on shares of Amicus Therapeutics in a research note on Wednesday, September 13th. Leerink Swann restated an “outperform” rating and issued a $17.00 target price (down previously from $18.00) on shares of Amicus Therapeutics in a research note on Saturday, September 16th. Finally, Cowen and Company restated an “outperform” rating and issued a $18.00 target price (up previously from $16.00) on shares of Amicus Therapeutics in a research note on Thursday, September 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $17.81.
Shares of Amicus Therapeutics (NASDAQ:FOLD) traded down 0.14% on Thursday, reaching $14.25. The company’s stock had a trading volume of 3,191,733 shares. Amicus Therapeutics has a 12-month low of $4.41 and a 12-month high of $16.60. The stock’s market cap is $2.35 billion. The firm has a 50 day moving average price of $14.31 and a 200-day moving average price of $10.80.
Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.03. The business had revenue of $7.16 million for the quarter, compared to analyst estimates of $6.96 million. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. During the same period in the prior year, the company earned ($0.40) earnings per share. Equities research analysts expect that Amicus Therapeutics will post ($1.32) EPS for the current year.
Hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas boosted its position in Amicus Therapeutics by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 10,243 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 169 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in Amicus Therapeutics during the second quarter worth approximately $111,000. Tudor Investment Corp ET AL purchased a new position in Amicus Therapeutics during the second quarter worth approximately $124,000. Aperio Group LLC boosted its position in Amicus Therapeutics by 13.5% during the second quarter. Aperio Group LLC now owns 13,986 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 1,663 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in Amicus Therapeutics during the second quarter worth approximately $145,000.
About Amicus Therapeutics
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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