StockNews.com Downgrades Amicus Therapeutics (NASDAQ:FOLD) to Hold

Amicus Therapeutics (NASDAQ:FOLD) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other analysts also recently issued reports on FOLD. Cantor Fitzgerald raised their target price on Amicus Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $12.00 target price (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. JPMorgan Chase & Co. raised their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Bank of America upped their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.88.

Amicus Therapeutics Trading Up 1.7 %

Shares of Amicus Therapeutics stock opened at $9.73 on Wednesday. Amicus Therapeutics has a 1-year low of $9.02 and a 1-year high of $14.57. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The stock has a market cap of $2.91 billion, a P/E ratio of -28.62 and a beta of 0.60. The stock’s 50 day simple moving average is $10.49 and its 200-day simple moving average is $10.61.

Insider Buying and Selling at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $9,398,532.40. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 30,401 shares of company stock valued at $339,363 over the last quarter. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds have recently bought and sold shares of FOLD. Virtu Financial LLC purchased a new stake in Amicus Therapeutics during the third quarter worth about $107,000. Old West Investment Management LLC increased its stake in Amicus Therapeutics by 617.2% during the 3rd quarter. Old West Investment Management LLC now owns 340,441 shares of the biopharmaceutical company’s stock worth $3,636,000 after buying an additional 292,976 shares during the period. Neo Ivy Capital Management acquired a new stake in Amicus Therapeutics during the 3rd quarter worth approximately $702,000. Geode Capital Management LLC boosted its position in Amicus Therapeutics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company’s stock valued at $70,499,000 after buying an additional 80,926 shares during the period. Finally, XTX Topco Ltd purchased a new position in Amicus Therapeutics in the 3rd quarter valued at approximately $405,000.

Amicus Therapeutics Company Profile

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.