Amicus Therapeutics’ (FOLD) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Amicus Therapeutics (NASDAQ:FOLD) in a research report sent to investors on Friday, MarketBeat Ratings reports. Morgan Stanley currently has a $12.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $17.00.

Several other brokerages also recently commented on FOLD. Jefferies Financial Group assumed coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Cantor Fitzgerald upped their price objective on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Guggenheim increased their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Bank of America boosted 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, October 17th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.88.

Amicus Therapeutics Stock Down 7.8 %

Shares of Amicus Therapeutics stock opened at $9.36 on Friday. The stock’s 50-day moving average is $10.52 and its 200 day moving average is $10.61. Amicus Therapeutics has a one year low of $9.02 and a one year high of $14.57. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -27.53 and a beta of 0.60. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42.

Insider Activity at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $10.02, for a total transaction of $75,150.00. Following the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $8,884,273.08. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 30,401 shares of company stock valued at $339,363 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora bought a new position in shares of Amicus Therapeutics in the third quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. boosted its position in Amicus Therapeutics by 156.9% in 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 last quarter. Blue Trust Inc. grew its stake in Amicus Therapeutics by 1,705.4% in the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 2,831 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Amicus Therapeutics during the 3rd quarter valued at $32,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Amicus Therapeutics during the 3rd quarter worth $55,000.

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.