Zacks Investment Research Downgrades Amicus Therapeutics, Inc. (FOLD) 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 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. “

Several other brokerages also recently commented on FOLD. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Amicus Therapeutics in a research note on Wednesday, October 4th. Robert W. Baird reaffirmed 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 Wednesday, October 4th. Chardan Capital reaffirmed a “buy” rating and issued a $18.50 target price (up previously from $16.50) on shares of Amicus Therapeutics in a research note on Thursday, October 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Amicus Therapeutics in a research note on Friday, October 6th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $20.00 target price (up previously from $17.00) on shares of Amicus Therapeutics in a research note on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $17.81.

Amicus Therapeutics (FOLD) traded down 0.14% during trading on Thursday, reaching $14.25. 3,191,733 shares of the company were exchanged. The firm’s market cap is $2.35 billion. The firm has a 50-day moving average of $14.31 and a 200-day moving average of $10.80. Amicus Therapeutics has a 52-week low of $4.41 and a 52-week high of $16.60.

Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. The firm had revenue of $7.16 million during the quarter, compared to the consensus estimate of $6.96 million. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. On average, equities analysts forecast that Amicus Therapeutics will post ($1.32) EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in FOLD. Teacher Retirement System of Texas boosted its holdings in shares of Amicus Therapeutics by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 10,243 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 169 shares during the period. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Amicus Therapeutics in the second quarter valued at approximately $111,000. Tudor Investment Corp ET AL acquired a new position in shares of Amicus Therapeutics in the second quarter valued at approximately $124,000. Aperio Group LLC boosted its holdings in shares of Amicus Therapeutics by 13.5% in the second quarter. Aperio Group LLC now owns 13,986 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 1,663 shares during the period. Finally, Zacks Investment Management acquired a new position in shares of Amicus Therapeutics in the second quarter valued at 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.

Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

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