Amicus Therapeutics (NASDAQ:FOLD) Rating Lowered to “Market Perform” at Leerink Partners

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by stock analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat reports. They currently have a $14.50 price target on the biopharmaceutical company’s stock, down from their previous price target of $17.00. Leerink Partners’ price target would indicate a potential upside of 1.75% from the stock’s current price.

A number of other research firms have also weighed in on FOLD. Citigroup reaffirmed a “neutral” rating and set a $14.50 target price (down previously from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. JPMorgan Chase & Co. boosted their price target on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. The Goldman Sachs Group increased their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Wall Street Zen raised Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Needham & Company LLC cut Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.67.

Amicus Therapeutics Stock Performance

Shares of FOLD opened at $14.25 on Monday. The company has a current ratio of 2.99, a quick ratio of 2.09 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -356.16 and a beta of 0.46. Amicus Therapeutics has a 12 month low of $5.51 and a 12 month high of $14.36. The stock has a 50 day moving average of $10.32 and a 200 day moving average of $8.25.

Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. The firm had revenue of $169.06 million during the quarter, compared to the consensus estimate of $165.24 million. During the same period in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Amicus Therapeutics will post 0.15 earnings per share for the current year.

Insider Transactions at Amicus Therapeutics

In related news, insider Ellen Rosenberg sold 23,621 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $10.00, for a total value of $236,210.00. Following the completion of the sale, the insider owned 507,710 shares in the company, valued at $5,077,100. The trade was a 4.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bradley L. Campbell sold 77,926 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 1,129,782 shares of the company’s stock, valued at approximately $12,269,432.52. This represents a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 345,450 shares of company stock worth $3,657,000. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amicus Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Allworth Financial LP grew its holdings in shares of Amicus Therapeutics by 36.3% during the 3rd quarter. Allworth Financial LP now owns 4,678 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,246 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Amicus Therapeutics by 0.3% during the third quarter. Allianz Asset Management GmbH now owns 389,109 shares of the biopharmaceutical company’s stock valued at $3,066,000 after buying an additional 1,333 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Amicus Therapeutics by 35.1% during the third quarter. Van ECK Associates Corp now owns 5,638 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 1,466 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Amicus Therapeutics by 40.2% in the third quarter. Parallel Advisors LLC now owns 5,756 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 1,649 shares during the period. Finally, Gotham Asset Management LLC lifted its stake in shares of Amicus Therapeutics by 1.5% in the 3rd quarter. Gotham Asset Management LLC now owns 138,523 shares of the biopharmaceutical company’s stock valued at $1,092,000 after acquiring an additional 1,987 shares during the last quarter.

Amicus Therapeutics Company Profile

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.