Trading Report: Today, Amicus Therapeutics Inc. (FOLD) Rating Decreased to Sell at The Zacks Investment Research

Today, Amicus Therapeutics Inc. (FOLD) Rating Decreased to Sell at The Zacks Investment Research

Zacks Investment Research downgraded shares of Amicus Therapeutics Inc. (NASDAQ:FOLD) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

Several other equities analysts have also recently commented on the stock. Leerink Swann reissued a buy rating and set a $17.00 target price on shares of Amicus Therapeutics in a research note on Tuesday, November 8th. Cowen and Company reissued an outperform rating and set a $15.00 target price on shares of Amicus Therapeutics in a research note on Tuesday, November 8th. Finally, Chardan Capital set a $15.00 target price on shares of Amicus Therapeutics and gave the company 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 assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $12.19.

Amicus Therapeutics (NASDAQ:FOLD) opened at 8.32 on Wednesday. The stock has a 50 day moving average of $7.82 and a 200-day moving average of $6.97. The firm’s market cap is $1.18 billion. Amicus Therapeutics has a 52-week low of $4.98 and a 52-week high of $11.02.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.01. The firm earned $2.10 million during the quarter, compared to analyst estimates of $1.71 million. On average, analysts expect that Amicus Therapeutics will post ($1.38) EPS for the current year.

In other Amicus Therapeutics news, CFO William D. Baird III sold 20,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 56,450 shares in the company, valued at $451,600. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Daphne Quimi sold 8,546 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $8.00, for a total transaction of $68,368.00. Following the completion of the transaction, the senior vice president now owns 24,189 shares of the company’s stock, valued at $193,512. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Amicus Therapeutics by 0.8% in the third quarter. BlackRock Inc. now owns 26,648 shares of the biopharmaceutical company’s stock valued at $197,000 after buying an additional 205 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Amicus Therapeutics by 1.4% in the third quarter. Principal Financial Group Inc. now owns 22,718 shares of the biopharmaceutical company’s stock valued at $168,000 after buying an additional 307 shares during the last quarter. Teachers Advisors Inc. boosted its position 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 valued at $1,464,000 after buying an additional 1,750 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Amicus Therapeutics by 2.5% in the third quarter. BlackRock Group LTD now owns 73,845 shares of the biopharmaceutical company’s stock valued at $546,000 after buying an additional 1,821 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Amicus Therapeutics by 3.1% in the second quarter. ProShare Advisors LLC now owns 110,154 shares of the biopharmaceutical company’s stock valued at $601,000 after buying an additional 3,291 shares during the last quarter.

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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