Amicus Therapeutics (NASDAQ:FOLD) Sets New 52-Week Low – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD) reached a new 52-week low during trading on Tuesday . The stock traded as low as $8.52 and last traded at $8.60, with a volume of 107904 shares. The stock had previously closed at $8.69.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 price target (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, February 20th. StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.75.

Amicus Therapeutics Trading Down 1.2 %

The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.42 and a current ratio of 3.39. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of -47.33, a P/E/G ratio of 1.51 and a beta of 0.69. The business has a fifty day moving average price of $9.31 and a 200 day moving average price of $10.00.

Hedge Funds Weigh In On Amicus Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Amicus Therapeutics in the third quarter worth about $834,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Amicus Therapeutics by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company’s stock worth $28,486,000 after acquiring an additional 242,672 shares during the period. Algert Global LLC boosted its holdings in shares of Amicus Therapeutics by 192.6% in the third quarter. Algert Global LLC now owns 259,160 shares of the biopharmaceutical company’s stock valued at $2,768,000 after acquiring an additional 170,575 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Amicus Therapeutics by 66.1% during the third quarter. BNP Paribas Financial Markets now owns 565,976 shares of the biopharmaceutical company’s stock valued at $6,045,000 after acquiring an additional 225,222 shares during the period. Finally, FORA Capital LLC bought a new stake in Amicus Therapeutics during the third quarter worth approximately $313,000.

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.