Zacks Investment Research lowered shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a sell rating in a report published 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 weighed in on FOLD. ValuEngine raised Amicus Therapeutics from a sell rating to a hold rating in a research report on Friday, February 2nd. Robert W. Baird set a $20.00 target price on Amicus Therapeutics and gave the company a buy rating in a research report on Wednesday, February 7th. Leerink Swann raised their target price on Amicus Therapeutics from $20.00 to $24.00 and gave the company an outperform rating in a research report on Thursday, February 8th. BidaskClub upgraded Amicus Therapeutics from a hold rating to a buy rating in a research report on Monday, January 15th. Finally, Cowen restated a buy rating and set a $22.00 target price on shares of Amicus Therapeutics in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $19.06.
In related news, insider Jay Barth sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $16.80, for a total value of $336,000.00. Following the transaction, the insider now directly owns 105,409 shares of the company’s stock, valued at approximately $1,770,871.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Bradley L. Campbell sold 32,500 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $15.92, for a total transaction of $517,400.00. Following the completion of the transaction, the chief operating officer now directly owns 186,600 shares in the company, valued at $2,970,672. The disclosure for this sale can be found here. Insiders have sold a total of 250,390 shares of company stock worth $3,620,581 over the last 90 days. Insiders own 3.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of FOLD. Strs Ohio purchased a new position in Amicus Therapeutics in the 3rd quarter valued at about $102,000. Birchview Capital LP purchased a new position in Amicus Therapeutics in the 3rd quarter valued at about $151,000. Sage Capital Advisors llc purchased a new position in Amicus Therapeutics in the 3rd quarter valued at about $154,000. Engineers Gate Manager LP purchased a new position in Amicus Therapeutics in the 3rd quarter valued at about $155,000. Finally, Neuberger Berman Group LLC purchased a new position in Amicus Therapeutics in the 3rd quarter valued at about $196,000.
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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.
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