Wells Fargo & Company Lowers Amicus Therapeutics (NASDAQ:FOLD) Price Target to $17.00

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) had its price objective cut by analysts at Wells Fargo & Company from $18.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's price target would indicate a potential upside of 81.92% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $21.00 price target on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. StockNews.com lowered Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Thursday. Morgan Stanley restated an "equal weight" rating and issued a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Finally, Guggenheim raised their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Amicus Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $16.75.

Amicus Therapeutics Trading Up 1.7 %

Shares of FOLD stock traded up $0.16 on Thursday, hitting $9.35. 3,182,352 shares of the stock traded hands, compared to its average volume of 2,307,549. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.42 and a current ratio of 3.39. Amicus Therapeutics has a twelve month low of $8.78 and a twelve month high of $14.02. The firm's 50-day moving average price is $9.56 and its two-hundred day moving average price is $10.42. The stock has a market capitalization of $2.87 billion, a PE ratio of -51.92, a PEG ratio of 1.51 and a beta of 0.61.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.02, for a total transaction of $75,150.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company's stock, valued at $8,884,273.08. This represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOLD. OLD Second National Bank of Aurora acquired a new stake in shares of Amicus Therapeutics in the third quarter valued at $26,000. Hazlett Burt & Watson Inc. increased its holdings in Amicus Therapeutics by 156.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 1,569 shares during the period. Virtus Fund Advisers LLC acquired a new stake in Amicus Therapeutics in the 4th quarter valued at about $29,000. Blue Trust Inc. boosted its stake in shares of Amicus Therapeutics by 1,705.4% in the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 2,831 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of Amicus Therapeutics during the third quarter worth about $32,000.

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.