Amicus Therapeutics (NASDAQ:FOLD) Sets New 52-Week Low - Here's What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $6.99 and last traded at $7.03, with a volume of 149076 shares trading hands. The stock had previously closed at $7.50.

Analyst Ratings Changes

FOLD has been the topic of several analyst reports. Morgan Stanley reaffirmed an "equal weight" rating and set a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a research report on Thursday, February 20th. 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. StockNews.com lowered Amicus Therapeutics from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price objective on Amicus Therapeutics from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.75.

Amicus Therapeutics Trading Down 0.5 %

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 business's 50-day moving average is $8.71 and its two-hundred day moving average is $9.65. The stock has a market capitalization of $1.99 billion, a PE ratio of -36.00, a PEG ratio of 1.51 and a beta of 0.79.

Institutional Inflows and Outflows

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

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.