Amicus Therapeutics (FOLD) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a sell rating in a research report released 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. “

FOLD has been the subject of a number of other research reports. BidaskClub raised shares of Amicus Therapeutics from a strong sell rating to a sell rating in a research report on Friday, January 4th. ValuEngine downgraded shares of Amicus Therapeutics from a strong-buy rating to a buy rating in a research report on Wednesday, January 2nd. Guggenheim initiated coverage on shares of Amicus Therapeutics in a research report on Monday, December 17th. They issued a buy rating and a $18.00 target price for the company. Citigroup initiated coverage on shares of Amicus Therapeutics in a research report on Monday, October 29th. They issued a neutral rating and a $12.00 target price for the company. Finally, Cowen reaffirmed a buy rating and issued a $31.00 target price on shares of Amicus Therapeutics in a research report on Friday, October 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $19.29.

Shares of FOLD stock opened at $11.74 on Thursday. The company has a quick ratio of 9.03, a current ratio of 9.12 and a debt-to-equity ratio of 0.78. Amicus Therapeutics has a 12-month low of $8.27 and a 12-month high of $17.62. The firm has a market cap of $2.17 billion, a PE ratio of -4.02 and a beta of 1.52.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.04). Amicus Therapeutics had a negative return on equity of 52.03% and a negative net margin of 463.82%. The company had revenue of $20.60 million for the quarter, compared to the consensus estimate of $23.56 million. During the same period in the prior year, the company earned ($0.41) EPS. The firm’s revenue was up 89.0% on a year-over-year basis. On average, research analysts anticipate that Amicus Therapeutics will post -1.22 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in FOLD. Perceptive Advisors LLC grew its position in shares of Amicus Therapeutics by 3.3% in the 3rd quarter. Perceptive Advisors LLC now owns 20,694,424 shares of the biopharmaceutical company’s stock valued at $250,196,000 after acquiring an additional 670,000 shares during the period. Vanguard Group Inc. grew its position in shares of Amicus Therapeutics by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 16,807,772 shares of the biopharmaceutical company’s stock valued at $203,205,000 after acquiring an additional 541,308 shares during the period. Vanguard Group Inc grew its position in shares of Amicus Therapeutics by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 16,807,772 shares of the biopharmaceutical company’s stock valued at $203,205,000 after acquiring an additional 541,308 shares during the period. BlackRock Inc. grew its position in shares of Amicus Therapeutics by 2.2% in the 3rd quarter. BlackRock Inc. now owns 16,374,336 shares of the biopharmaceutical company’s stock valued at $197,967,000 after acquiring an additional 357,035 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Amicus Therapeutics by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 8,806,359 shares of the biopharmaceutical company’s stock valued at $106,469,000 after acquiring an additional 627,972 shares during the period.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.

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