TD Cowen Downgrades Amicus Therapeutics (NASDAQ:FOLD) to Hold

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by stock analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Marketbeat.com reports. They presently have a $14.50 target price on the biopharmaceutical company’s stock. TD Cowen’s target price indicates a potential upside of 2.04% from the company’s previous close.

A number of other research firms also recently issued reports on FOLD. Needham & Company LLC downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 19th. Citigroup reissued a “neutral” rating and set a $14.50 price objective (down from $17.00) on shares of Amicus Therapeutics in a research note on Monday. The Goldman Sachs Group upped their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. lifted their target price on Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Zacks Research upgraded Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.81.

Amicus Therapeutics Stock Performance

Amicus Therapeutics stock opened at $14.21 on Monday. The stock has a fifty day moving average price of $9.72 and a 200 day moving average price of $7.96. Amicus Therapeutics has a 52 week low of $5.51 and a 52 week high of $14.36. The firm has a market capitalization of $4.38 billion, a P/E ratio of -355.16 and a beta of 0.46. 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 results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The firm had revenue of $169.06 million for the quarter, compared to analyst estimates of $165.24 million. During the same period last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that Amicus Therapeutics will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In other Amicus Therapeutics news, insider Ellen Rosenberg sold 36,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $10.00, for a total transaction of $360,000.00. Following the transaction, the insider owned 507,710 shares in the company, valued at $5,077,100. The trade was a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeff Castelli sold 76,158 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $10.16, for a total value of $773,765.28. Following the transaction, the insider directly owned 439,318 shares in the company, valued at $4,463,470.88. This trade represents a 14.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 345,450 shares of company stock valued at $3,657,000. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Amicus Therapeutics in the 1st quarter valued at about $30,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Amicus Therapeutics during the third quarter worth about $31,000. Osaic Holdings Inc. lifted its stake in shares of Amicus Therapeutics by 450.1% in the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 3,358 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Amicus Therapeutics by 472.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 3,677 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Amicus Therapeutics by 36.3% during the 3rd quarter. Allworth Financial LP now owns 4,678 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,246 shares during the last quarter.

Amicus Therapeutics News Summary

Here are the key news stories impacting Amicus Therapeutics this week:

• Positive Sentiment: Report that BioMarin agreed to acquire Amicus for roughly $4.8 billion — this is a direct, highly constructive development for shareholders because an acquisition at a premium would likely push FOLD materially higher. A $4.8 Billion Reason to Buy BioMarin Stock Today
• Positive Sentiment: Technical/market-interest signal: Amicus cleared a key benchmark and hit a 90-plus relative strength (RS) rating — a sign of strong recent price performance and institutional interest that can support further inflows. Amicus Therapeutics clears key benchmark, hitting 90-plus RS rating
• Neutral Sentiment: Citigroup has a neutral rating on FOLD with a $14.50 price target (down from $17.00) — this trims upside in broker guidance but is not an outright sell signal. Benzinga coverage
• Negative Sentiment: Citigroup downgraded Amicus from “strong-buy” to “hold” — an influential shop trimming its view can weigh on momentum and sentiment. Citigroup downgrades Amicus Therapeutics (FOLD)
• Negative Sentiment: TD Cowen cut its rating from buy to hold and set a $14.50 target — another downgrade that reduces broker-driven buying pressure. Finviz / TD Cowen note
• Negative Sentiment: Insider selling: director David Michael Clark sold 25,642 shares at about $14.17 (disclosed in an SEC filing) — insider sales can be interpreted by some investors as a signal of reduced insider conviction or portfolio rebalancing, which may add short-term selling pressure. SEC filing – insider sale

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.