Amicus Therapeutics (NASDAQ:FOLD) Shares Down 6.3% - Should You Sell?

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report)'s share price fell 6.3% during trading on Wednesday . The stock traded as low as $6.28 and last traded at $6.30. 734,305 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 2,545,762 shares. The stock had previously closed at $6.72.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FOLD. Cantor Fitzgerald reissued an "overweight" rating and issued a $21.00 price objective on shares of Amicus Therapeutics in a report on Wednesday, January 15th. Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Wells Fargo & Company decreased their price target on Amicus Therapeutics from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Finally, StockNews.com cut shares of Amicus Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Amicus Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $16.75.

Amicus Therapeutics Trading Up 3.7 %

The company has a 50-day moving average price of $8.71 and a 200-day moving average price of $9.64. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.42 and a current ratio of 3.39. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -37.33, a PEG ratio of 1.51 and a beta of 0.79.

Institutional Trading of Amicus Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Summit Investment Advisors Inc. lifted its position in Amicus Therapeutics by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 30,696 shares of the biopharmaceutical company's stock worth $289,000 after acquiring an additional 1,280 shares during the last quarter. Xponance Inc. grew its position in shares of Amicus Therapeutics by 11.9% in the fourth quarter. Xponance Inc. now owns 21,216 shares of the biopharmaceutical company's stock valued at $200,000 after purchasing an additional 2,249 shares during the last quarter. Covestor Ltd increased its stake in shares of Amicus Therapeutics by 114.9% in the fourth quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 2,312 shares during the period. Virtus Fund Advisers LLC acquired a new position in shares of Amicus Therapeutics during the 4th quarter worth about $29,000. Finally, KBC Group NV boosted its stake in Amicus Therapeutics by 44.4% during the 4th quarter. KBC Group NV now owns 10,154 shares of the biopharmaceutical company's stock valued at $96,000 after purchasing an additional 3,120 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.