Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Down - Time to Sell?

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $10.15, but opened at $9.85. Amicus Therapeutics shares last traded at $9.59, with a volume of 205,998 shares changing hands.

Wall Street Analysts Forecast Growth

FOLD has been the subject of a number of analyst reports. Bank of America raised their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Guggenheim upped their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Morgan Stanley reissued an "equal weight" rating and issued a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday. Finally, Jefferies Financial Group started coverage on Amicus Therapeutics in a research note on Friday, September 6th. They set a "buy" rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.88.

Amicus Therapeutics Stock Performance

The firm has a 50 day moving average of $10.52 and a 200-day moving average of $10.61. The company has a market cap of $2.80 billion, a P/E ratio of -27.53 and a beta of 0.60. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18.

Insider Buying and Selling

In other news, CEO Bradley L. Campbell sold 7,901 shares of Amicus Therapeutics stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total value of $98,762.50. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $11,083,175. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 30,401 shares of company stock valued at $339,363 over the last three months. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amicus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new position in Amicus Therapeutics in the second quarter worth about $8,386,000. AlphaCentric Advisors LLC lifted its position in Amicus Therapeutics by 15.7% during the second quarter. AlphaCentric Advisors LLC now owns 202,500 shares of the biopharmaceutical company's stock valued at $2,009,000 after acquiring an additional 27,500 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Amicus Therapeutics by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 1,245,115 shares of the biopharmaceutical company's stock valued at $12,352,000 after acquiring an additional 82,065 shares in the last quarter. Legato Capital Management LLC grew its holdings in Amicus Therapeutics by 864.0% in the second quarter. Legato Capital Management LLC now owns 101,703 shares of the biopharmaceutical company's stock worth $1,009,000 after purchasing an additional 91,153 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Amicus Therapeutics by 6.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,471 shares of the biopharmaceutical company's stock worth $501,000 after purchasing an additional 2,918 shares in 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.