Amicus Therapeutics (NASDAQ:FOLD) Raised to “Buy” at StockNews.com

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

FOLD has been the topic of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Monday, January 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $21.00 target price on shares of Amicus Therapeutics in a research report on Wednesday, January 15th. Morgan Stanley reissued an “equal weight” rating and set a $12.00 price target (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. Bank of America lifted their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their target price 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.88.

Amicus Therapeutics Trading Down 0.2 %

Shares of FOLD opened at $9.55 on Wednesday. The company’s fifty day simple moving average is $9.60 and its 200-day simple moving average is $10.44. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. Amicus Therapeutics has a twelve month low of $8.78 and a twelve month high of $14.03.

Insider Activity at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.02, for a total value of $75,150.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $8,884,273.08. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

A number of institutional investors have recently modified their holdings of FOLD. Vanguard Group Inc. boosted its stake in shares of Amicus Therapeutics by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,258,963 shares of the biopharmaceutical company’s stock valued at $275,619,000 after purchasing an additional 458,143 shares during the period. Wellington Management Group LLP lifted its holdings in Amicus Therapeutics by 18.8% during the 4th quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock worth $268,112,000 after buying an additional 4,497,950 shares in the last quarter. Geode Capital Management LLC boosted its position in Amicus Therapeutics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company’s stock valued at $70,499,000 after buying an additional 80,926 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Amicus Therapeutics by 3.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,267,375 shares of the biopharmaceutical company’s stock worth $30,779,000 after acquiring an additional 107,348 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Amicus Therapeutics during the fourth quarter worth $29,033,000.

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.