Amicus Therapeutics (NASDAQ:FOLD) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a research report report published on Monday morning.

Several other equities research analysts also recently commented on the stock. Guggenheim upped their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their price target on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Bank of America upped their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald upped their price target on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.63.

Amicus Therapeutics Stock Down 0.2 %

NASDAQ FOLD opened at $9.96 on Monday. 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 company’s 50 day simple moving average is $10.70 and its 200 day simple moving average is $10.60. Amicus Therapeutics has a 12 month low of $9.02 and a 12 month high of $14.57. The company has a market capitalization of $2.98 billion, a P/E ratio of -29.29 and a beta of 0.68.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,901 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total transaction of $98,762.50. Following the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $11,083,175. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 22,901 shares of company stock worth $264,213 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FOLD. Wellington Management Group LLP raised its holdings in shares of Amicus Therapeutics by 13.5% during the 3rd quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock valued at $255,936,000 after purchasing an additional 2,856,101 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Amicus Therapeutics by 1,758.9% during the 2nd quarter. Millennium Management LLC now owns 1,894,176 shares of the biopharmaceutical company’s stock valued at $18,790,000 after purchasing an additional 1,792,277 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Amicus Therapeutics by 12.8% during the 2nd quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock valued at $128,993,000 after purchasing an additional 1,477,084 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Amicus Therapeutics in the 3rd quarter valued at $13,530,000. Finally, Assenagon Asset Management S.A. grew its stake in Amicus Therapeutics by 141.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,037,896 shares of the biopharmaceutical company’s stock valued at $21,765,000 after buying an additional 1,192,489 shares during the last quarter.

About Amicus Therapeutics

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.