Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up - Still a Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $9.02, but opened at $9.44. Amicus Therapeutics shares last traded at $9.00, with a volume of 129,401 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FOLD shares. JPMorgan Chase & Co. lifted their target price on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Guggenheim upped their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Cantor Fitzgerald upped their price objective on Amicus Therapeutics from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Finally, StockNews.com lowered Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Amicus Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $16.88.

Amicus Therapeutics Trading Up 2.3 %

The business's 50 day moving average is $9.90 and its two-hundred day moving average is $10.55. The firm has a market capitalization of $2.76 billion, a P/E ratio of -27.15 and a beta of 0.62. 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 Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,901 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total transaction of $98,762.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 22,901 shares of company stock valued at $259,863. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Amicus Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 2,856,101 shares during the period. Millennium Management LLC increased its stake in Amicus Therapeutics by 1,758.9% in the 2nd quarter. Millennium Management LLC now owns 1,894,176 shares of the biopharmaceutical company's stock worth $18,790,000 after purchasing an additional 1,792,277 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Amicus Therapeutics during the 3rd quarter worth about $13,530,000. Assenagon Asset Management S.A. lifted its stake in Amicus Therapeutics by 141.1% during the third quarter. Assenagon Asset Management S.A. now owns 2,037,896 shares of the biopharmaceutical company's stock valued at $21,765,000 after buying an additional 1,192,489 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Amicus Therapeutics by 159.1% in the second quarter. Squarepoint Ops LLC now owns 650,555 shares of the biopharmaceutical company's stock worth $6,454,000 after buying an additional 399,449 shares during the period.

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.