Cantor Fitzgerald Reaffirms Overweight Rating for Amicus Therapeutics (NASDAQ:FOLD)

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $21.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 124.36% from the company’s current price.

Several other equities research analysts have also recently weighed in on FOLD. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Guggenheim upped their target price on 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 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. Finally, StockNews.com downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.88.

Amicus Therapeutics Price Performance

Shares of FOLD opened at $9.36 on Wednesday. The business has a 50-day moving average of $9.77 and a 200-day moving average of $10.53. 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 has a market capitalization of $2.80 billion, a price-to-earnings ratio of -27.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.62. Amicus Therapeutics has a 1 year low of $8.78 and a 1 year high of $14.03.

Insider Buying and Selling at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,901 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total transaction of $98,762.50. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $11,083,175. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 22,901 shares of company stock worth $259,863. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avanza Fonder AB bought a new stake in shares of Amicus Therapeutics during the 4th quarter worth $157,000. Park Avenue Securities LLC purchased a new position in shares of Amicus Therapeutics in the fourth quarter valued at $123,000. Diversified Trust Co lifted its holdings in shares of Amicus Therapeutics by 9.7% in the fourth quarter. Diversified Trust Co now owns 81,758 shares of the biopharmaceutical company’s stock worth $770,000 after buying an additional 7,257 shares in the last quarter. Virtu Financial LLC bought a new position in Amicus Therapeutics in the 3rd quarter valued at $107,000. Finally, Old West Investment Management LLC grew its position 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 buying an additional 292,976 shares in 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.