Amicus Therapeutics (NASDAQ:FOLD) Rating Lowered to Hold at StockNews.com

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Thursday.

Other equities analysts have also recently issued reports about the company. Guggenheim lifted their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a "hold" rating on shares of Amicus Therapeutics in a research note on Monday, January 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $21.00 price objective on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Morgan Stanley reissued an "equal weight" rating and set a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Amicus Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $16.75.

Amicus Therapeutics Stock Performance

Shares of NASDAQ FOLD traded up $0.12 during mid-day trading on Thursday, hitting $9.19. The company had a trading volume of 2,603,411 shares, compared to its average volume of 2,128,267. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -51.06, a P/E/G ratio of 1.51 and a beta of 0.61. Amicus Therapeutics has a 1 year low of $8.78 and a 1 year high of $14.02. The company has a current ratio of 3.39, a quick ratio of 2.42 and a debt-to-equity ratio of 2.01. The stock's 50-day moving average price is $9.56 and its 200-day moving average price is $10.41.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Amicus Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FOLD. Wellington Management Group LLP lifted its stake in shares of Amicus Therapeutics by 18.8% in the 4th quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company's stock valued at $268,112,000 after acquiring an additional 4,497,950 shares during the last quarter. Vestal Point Capital LP bought a new stake in shares of Amicus Therapeutics in the 4th quarter valued at about $31,557,000. Norges Bank bought a new stake in shares of Amicus Therapeutics in the 4th quarter valued at about $29,033,000. Orbimed Advisors LLC lifted its stake 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 valued at $21,528,000 after acquiring an additional 1,715,100 shares during the last quarter. Finally, Rock Springs Capital Management LP lifted its stake 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 valued at $24,487,000 after acquiring an additional 1,349,145 shares during the last quarter.

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.