StockNews.com cut shares of Amicus Therapeutics (NASDAQ:FOLD - Free Report) from a buy rating to a hold rating in a report released on Wednesday morning.
Other research analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. Guggenheim increased their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Cantor Fitzgerald raised their price target 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. Morgan Stanley reiterated an "equal weight" rating and issued a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. raised their price objective on Amicus Therapeutics from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.88.
View Our Latest Stock Analysis on Amicus Therapeutics
Amicus Therapeutics Trading Down 3.2 %
Amicus Therapeutics stock traded down $0.32 during trading on Wednesday, reaching $9.57. The company had a trading volume of 2,615,605 shares, compared to its average volume of 2,719,271. The company has a debt-to-equity ratio of 2.18, a quick ratio of 2.42 and a current ratio of 3.15. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -28.15 and a beta of 0.60. The stock's 50 day moving average price is $10.50 and its two-hundred day moving average price is $10.61. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57.
Insider Buying and Selling at Amicus Therapeutics
In other news, CEO Bradley L. Campbell sold 7,901 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total transaction of $98,762.50. Following the transaction, the chief executive officer now directly owns 886,654 shares of the company's stock, valued at approximately $11,083,175. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 30,401 shares of company stock valued at $339,363 in the last ninety days. Company insiders own 2.20% of the company's stock.
Institutional Investors Weigh In On Amicus Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOLD. Wellington Management Group LLP grew its holdings in Amicus Therapeutics by 13.5% during the third quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company's stock worth $255,936,000 after acquiring an additional 2,856,101 shares during the period. Neo Ivy Capital Management bought a new stake in Amicus Therapeutics during the third quarter worth approximately $702,000. Fiera Capital Corp grew its position in Amicus Therapeutics by 1.1% in the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company's stock worth $52,382,000 after buying an additional 58,113 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amicus Therapeutics by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company's stock valued at $28,486,000 after buying an additional 242,672 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Amicus Therapeutics by 51.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,934 shares of the biopharmaceutical company's stock valued at $2,381,000 after acquiring an additional 75,807 shares during the last quarter.
Amicus Therapeutics Company Profile
(
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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.
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