Amicus Therapeutics, Inc. (NASDAQ:FOLD) Sees Significant Decrease in Short Interest

Amicus Therapeutics, Inc. (NASDAQ:FOLD) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 14,740,000 shares, a drop of 15.0% from the January 31st total of 17,340,000 shares. Based on an average daily trading volume, of 2,350,000 shares, the short-interest ratio is presently 6.3 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FOLD shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 price objective (down from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. StockNews.com lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price target on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.75.

Institutional Trading of Amicus Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of FOLD. Creative Planning increased its stake in Amicus Therapeutics by 79.6% during the third quarter. Creative Planning now owns 52,855 shares of the biopharmaceutical company’s stock worth $564,000 after purchasing an additional 23,433 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Amicus Therapeutics by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 1,884 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Amicus Therapeutics by 156.9% during the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 1,569 shares during the period. AlphaCentric Advisors LLC increased its stake in Amicus Therapeutics by 1.2% during the third quarter. AlphaCentric Advisors LLC now owns 205,000 shares of the biopharmaceutical company’s stock worth $2,189,000 after purchasing an additional 2,500 shares during the period. Finally, Old West Investment Management LLC increased its stake in Amicus Therapeutics by 617.2% during the third quarter. Old West Investment Management LLC now owns 340,441 shares of the biopharmaceutical company’s stock worth $3,636,000 after purchasing an additional 292,976 shares during the period.

Amicus Therapeutics Trading Down 0.2 %

Shares of FOLD stock opened at $9.11 on Wednesday. The company’s 50-day moving average price is $9.49 and its 200-day moving average price is $10.32. The company has a current ratio of 3.39, a quick ratio of 2.42 and a debt-to-equity ratio of 2.01. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -50.61, a PEG ratio of 1.51 and a beta of 0.61. Amicus Therapeutics has a twelve month low of $8.78 and a twelve month high of $13.53.

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.