Amicus Therapeutics (NASDAQ:FOLD) Upgraded at StockNews.com

StockNews.com upgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a buy rating in a research note published on Saturday.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group started coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 target price for the company. Cantor Fitzgerald lifted their price objective on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Bank of America increased their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley decreased their price target on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $17.63.

Amicus Therapeutics Trading Down 1.4 %

NASDAQ:FOLD opened at $9.52 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. The stock’s 50 day simple moving average is $10.92 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 firm has a market cap of $2.84 billion, a P/E ratio of -28.00 and a beta of 0.68.

Insider Activity at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,901 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $11,083,175. This 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 the SEC website. Over the last ninety days, insiders sold 30,401 shares of company stock worth $352,038. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amicus Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of FOLD. Wellington Management Group LLP boosted its holdings in Amicus Therapeutics by 13.5% in the third 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 during the last quarter. Janus Henderson Group PLC raised its position in shares of Amicus Therapeutics by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 13,814,514 shares of the biopharmaceutical company’s stock valued at $162,713,000 after purchasing an additional 2,307,385 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Amicus Therapeutics by 583.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,176,600 shares of the biopharmaceutical company’s stock valued at $25,640,000 after buying an additional 1,858,100 shares during the last quarter. Millennium Management LLC grew its position in shares of Amicus Therapeutics by 1,758.9% during the second quarter. Millennium Management LLC now owns 1,894,176 shares of the biopharmaceutical company’s stock worth $18,790,000 after buying an additional 1,792,277 shares in the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Amicus Therapeutics by 12.8% in the second quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock worth $128,993,000 after buying an additional 1,477,084 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.