Amicus Therapeutics (NASDAQ:FOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. ValuEngine raised shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. BidaskClub raised shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, January 15th. Leerink Swann raised their price target on shares of Amicus Therapeutics from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Cowen reissued a “buy” rating and issued a $22.00 price target on shares of Amicus Therapeutics in a report on Wednesday, January 10th. Finally, Robert W. Baird set a $20.00 price target on shares of Amicus Therapeutics and gave the company a “buy” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $19.06.
In other news, CFO William D. Baird III sold 10,000 shares of Amicus Therapeutics stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $14.72, for a total transaction of $147,200.00. Following the completion of the sale, the chief financial officer now directly owns 105,121 shares of the company’s stock, valued at approximately $1,547,381.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John F. Crowley sold 65,581 shares of Amicus Therapeutics stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $13.51, for a total transaction of $885,999.31. Following the sale, the chief executive officer now directly owns 393,076 shares of the company’s stock, valued at $5,310,456.76. The disclosure for this sale can be found here. Insiders have sold a total of 250,390 shares of company stock valued at $3,620,581 over the last ninety days. 3.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. lifted its holdings in shares of Amicus Therapeutics by 23.1% during the 3rd quarter. American International Group Inc. now owns 109,628 shares of the biopharmaceutical company’s stock worth $1,653,000 after acquiring an additional 20,597 shares during the last quarter. Vanguard Group Inc. lifted its stake in Amicus Therapeutics by 5.0% in the second quarter. Vanguard Group Inc. now owns 9,118,246 shares of the biopharmaceutical company’s stock worth $91,821,000 after purchasing an additional 430,486 shares during the last quarter. State Street Corp lifted its stake in Amicus Therapeutics by 2.2% in the second quarter. State Street Corp now owns 5,892,564 shares of the biopharmaceutical company’s stock worth $59,332,000 after purchasing an additional 125,635 shares during the last quarter. Perceptive Advisors LLC lifted its stake in Amicus Therapeutics by 3.4% in the third quarter. Perceptive Advisors LLC now owns 17,888,597 shares of the biopharmaceutical company’s stock worth $269,760,000 after purchasing an additional 591,925 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its stake in Amicus Therapeutics by 15.4% in the third quarter. Essex Investment Management Co. LLC now owns 160,889 shares of the biopharmaceutical company’s stock worth $2,426,000 after purchasing an additional 21,474 shares during the last quarter.
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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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