Amicus Therapeutics, Inc. (NASDAQ:FOLD) Sees Significant Drop in Short Interest

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report) was the recipient of a large drop in short interest in February. As of February 15th, there was short interest totalling 14,740,000 shares, a drop of 15.0% from the January 31st total of 17,340,000 shares. Based on an average daily volume of 2,350,000 shares, the days-to-cover ratio is currently 6.3 days.

Hedge Funds Weigh In On Amicus Therapeutics

Institutional investors have recently modified their holdings of the stock. OLD Second National Bank of Aurora purchased a new position in shares of Amicus Therapeutics during the 3rd quarter valued at about $26,000. Hazlett Burt & Watson Inc. raised its stake in shares of Amicus Therapeutics by 156.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 1,569 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in shares of Amicus Therapeutics during the 4th quarter valued at about $29,000. Covestor Ltd raised its stake in shares of Amicus Therapeutics by 114.9% during the 4th quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company's stock valued at $41,000 after buying an additional 2,312 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Amicus Therapeutics during the 3rd quarter valued at about $55,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com cut Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $21.00 target price on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their target price on Amicus Therapeutics from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.75.

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Amicus Therapeutics Stock Performance

Shares of NASDAQ FOLD traded down $0.16 during trading on Friday, reaching $8.86. 2,019,097 shares of the company traded hands, compared to its average volume of 2,323,927. The firm's fifty day simple moving average is $9.43 and its 200 day simple moving average is $10.25. The stock has a market cap of $2.72 billion, a P/E ratio of -49.22, a PEG ratio of 1.51 and a beta of 0.69. Amicus Therapeutics has a 12-month low of $8.78 and a 12-month high of $12.65. The company has a current ratio of 3.39, a quick ratio of 2.42 and a debt-to-equity ratio of 2.01.

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.