Amicus Therapeutics, Inc. (FOLD) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) from a sell rating to a hold rating in a research report report published on Friday.

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. “

A number of other equities research analysts have also weighed in on the company. Leerink Swann restated an outperform rating and set a $15.00 price objective on shares of Amicus Therapeutics in a research note on Thursday, March 30th. Robert W. Baird upgraded Amicus Therapeutics to an outperform rating in a research note on Tuesday, January 31st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Amicus Therapeutics currently has a consensus rating of Buy and an average price target of $11.82.

Shares of Amicus Therapeutics (NASDAQ:FOLD) opened at 7.57 on Friday. Amicus Therapeutics has a 1-year low of $4.41 and a 1-year high of $9.61. The company’s 50-day moving average price is $7.25 and its 200 day moving average price is $6.66. The stock’s market cap is $1.08 billion.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.02. The business had revenue of $4.20 million during the quarter, compared to analysts’ expectations of $4.16 million. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. Equities analysts forecast that Amicus Therapeutics will post ($1.42) EPS for the current fiscal year.

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In other news, COO Bradley L. Campbell sold 49,050 shares of Amicus Therapeutics stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $8.00, for a total value of $392,400.00. Following the completion of the transaction, the chief operating officer now owns 127,475 shares in the company, valued at approximately $1,019,800. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of FOLD. Princeton Alpha Management LP purchased a new position in shares of Amicus Therapeutics during the first quarter valued at approximately $106,000. Creative Planning raised its position in shares of Amicus Therapeutics by 56.2% in the first quarter. Creative Planning now owns 16,400 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 5,900 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in shares of Amicus Therapeutics during the first quarter valued at approximately $136,000. Brown Advisory Inc. raised its position in shares of Amicus Therapeutics by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 32,154 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 304 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Amicus Therapeutics by 1.8% in the first quarter. Principal Financial Group Inc. now owns 26,883 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 487 shares during the last quarter.

Amicus Therapeutics Company Profile

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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