Amicus Therapeutics (NASDAQ:FOLD) Sets New 52-Week Low – Time to Sell?

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.97 and last traded at $8.09, with a volume of 400639 shares traded. The stock had previously closed at $8.43.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FOLD. StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company dropped their target price on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Morgan Stanley reissued an “equal weight” rating and issued a $12.00 price objective (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price target on shares of Amicus Therapeutics in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.75.

Amicus Therapeutics Stock Performance

The company has a 50 day moving average price of $9.22 and a 200-day moving average price of $9.91. The company has a quick ratio of 2.42, a current ratio of 3.39 and a debt-to-equity ratio of 2.01. The company has a market cap of $2.44 billion, a P/E ratio of -44.17, a PEG ratio of 1.51 and a beta of 0.69.

Hedge Funds Weigh In On Amicus Therapeutics

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Amicus Therapeutics by 18.8% during the fourth 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. Vestal Point Capital LP acquired a new stake in shares of Amicus Therapeutics during the 4th quarter valued at $31,557,000. Norges Bank bought a new stake in shares of Amicus Therapeutics during the 4th quarter worth $29,033,000. Orbimed Advisors LLC grew its holdings in shares of Amicus Therapeutics by 300.7% in the 4th quarter. Orbimed Advisors LLC now owns 2,285,400 shares of the biopharmaceutical company’s stock worth $21,528,000 after acquiring an additional 1,715,100 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its holdings in shares of Amicus Therapeutics by 107.9% in the 4th quarter. Rock Springs Capital Management LP now owns 2,599,425 shares of the biopharmaceutical company’s stock worth $24,487,000 after acquiring an additional 1,349,145 shares during the last quarter.

Amicus Therapeutics Company Profile

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.