StockNews.com Upgrades Amicus Therapeutics (NASDAQ:FOLD) to “Buy”

Amicus Therapeutics (NASDAQ:FOLD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts also recently weighed in on FOLD. Bank of America raised their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley reduced their price objective on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. Finally, Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.63.

Amicus Therapeutics Price Performance

NASDAQ FOLD opened at $9.68 on Friday. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The stock’s 50-day moving average is $11.00 and its two-hundred day moving average is $10.61. The firm has a market cap of $2.89 billion, a P/E ratio of -28.47 and a beta of 0.68. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42.

Insiders Place Their Bets

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $9,398,532.40. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 30,401 shares of company stock worth $352,038 in the last ninety days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Xponance Inc. boosted its position in shares of Amicus Therapeutics by 5.3% during the 2nd quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock valued at $184,000 after acquiring an additional 936 shares in the last quarter. Hazlett Burt & Watson Inc. lifted 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 valued at $28,000 after purchasing an additional 1,569 shares during the last quarter. Arizona State Retirement System boosted its position in Amicus Therapeutics by 2.6% in the second quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock valued at $615,000 after buying an additional 1,577 shares in the last quarter. American International Group Inc. increased its holdings in shares of Amicus Therapeutics by 1.3% during the first quarter. American International Group Inc. now owns 143,034 shares of the biopharmaceutical company’s stock worth $1,685,000 after buying an additional 1,785 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Amicus Therapeutics by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 1,884 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.