Amicus Therapeutics, Inc. (FOLD) Upgraded to “Hold” by 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, May 12th.

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 equities research analysts have also commented on FOLD. Robert W. Baird upgraded shares of Amicus Therapeutics from a neutral rating to an outperform rating and raised their price target for the company from $7.00 to $10.00 in a research note on Tuesday, January 24th. Leerink Swann restated an outperform rating and set a $15.00 target price on shares of Amicus Therapeutics in a report on Thursday, March 30th. Two research 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 a consensus target price of $11.46.

Shares of Amicus Therapeutics (NASDAQ:FOLD) traded up 7.28% during mid-day trading on Friday, hitting $9.43. The stock had a trading volume of 4,713,439 shares. The firm’s market cap is $1.35 billion. Amicus Therapeutics has a 52-week low of $4.41 and a 52-week high of $9.61. The firm has a 50 day moving average price of $7.93 and a 200 day moving average price of $6.70.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.37) by $0.02. The business had revenue of $4.20 million for the quarter, compared to the consensus estimate of $4.16 million. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. Equities analysts predict that Amicus Therapeutics will post ($1.45) EPS for the current year.

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In other Amicus Therapeutics news, insider Hung Do sold 29,914 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $8.00, for a total value of $239,312.00. Following the transaction, the insider now directly owns 474,438 shares in the company, valued at $3,795,504. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.40% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in FOLD. Tudor Investment Corp Et Al acquired a new stake in Amicus Therapeutics during the fourth quarter worth $255,000. Brown Advisory Inc. increased its stake in Amicus Therapeutics by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 32,154 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 304 shares during the period. State Street Corp increased its stake in shares of Amicus Therapeutics by 12.2% in the fourth quarter. State Street Corp now owns 5,715,947 shares of the biopharmaceutical company’s stock valued at $28,386,000 after buying an additional 622,349 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Amicus Therapeutics by 39.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 986,900 shares of the biopharmaceutical company’s stock valued at $7,303,000 after buying an additional 277,000 shares during the last quarter. Finally, Redmile Group LLC increased its stake in shares of Amicus Therapeutics by 14.8% in the third quarter. Redmile Group LLC now owns 12,751,536 shares of the biopharmaceutical company’s stock valued at $94,361,000 after buying an additional 1,645,090 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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