Amicus Therapeutics, Inc. (FOLD) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) from a buy rating to a hold 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 have also recently weighed in on FOLD. J P Morgan Chase & Co reissued an overweight rating on shares of Amicus Therapeutics in a research note on Wednesday, October 4th. Robert W. Baird reissued an outperform rating and issued a $18.00 price objective (up previously from $16.00) on shares of Amicus Therapeutics in a research note on Wednesday, October 4th. Chardan Capital reissued a buy rating and issued a $18.50 price objective (up previously from $16.50) on shares of Amicus Therapeutics in a research note on Thursday, October 5th. Goldman Sachs Group, Inc. (The) reissued a neutral rating and issued a $17.00 price objective on shares of Amicus Therapeutics in a research note on Friday, October 6th. Finally, Leerink Swann reissued a buy rating and issued a $20.00 price objective (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 issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $17.81.

Amicus Therapeutics (NASDAQ FOLD) traded up 1.96% during midday trading on Thursday, reaching $14.53. The company had a trading volume of 3,028,731 shares. Amicus Therapeutics has a one year low of $4.41 and a one year high of $16.60. The stock’s 50 day moving average is $14.39 and its 200 day moving average is $10.87. The company’s market capitalization is $2.39 billion.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping the 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 company had revenue of $7.16 million during the quarter, compared to the consensus estimate of $6.96 million. During the same period in the prior year, the business earned ($0.40) earnings per share. Equities research analysts forecast that Amicus Therapeutics will post ($1.32) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This report was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2017/10/15/amicus-therapeutics-inc-fold-cut-to-hold-at-zacks-investment-research.html.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Nova Scotia bought a new stake in Amicus Therapeutics during the second quarter valued at $1,944,000. Redmile Group LLC boosted its position in Amicus Therapeutics by 5.9% during the second quarter. Redmile Group LLC now owns 12,043,932 shares of the biopharmaceutical company’s stock valued at $121,282,000 after acquiring an additional 668,080 shares during the last quarter. State Street Corp boosted its position in Amicus Therapeutics by 2.2% during the second quarter. State Street Corp now owns 5,892,564 shares of the biopharmaceutical company’s stock valued at $59,332,000 after acquiring an additional 125,635 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Amicus Therapeutics during the second quarter valued at $308,000. Finally, Palo Alto Investors LLC boosted its position in Amicus Therapeutics by 0.7% during the second quarter. Palo Alto Investors LLC now owns 7,940,788 shares of the biopharmaceutical company’s stock valued at $79,964,000 after acquiring an additional 57,800 shares during the last quarter.

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.

Get a free copy of the Zacks research report on Amicus Therapeutics (FOLD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

Receive News & Ratings for Amicus Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amicus Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply