Amicus Therapeutics (NASDAQ:FOLD) Hits New 12-Month Low – Time to Sell?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $8.78 and last traded at $8.75, with a volume of 35093 shares. The stock had previously closed at $8.86.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Wells Fargo & Company cut their price objective on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Morgan Stanley restated an “equal weight” rating and issued a $12.00 price objective (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $21.00 price objective on shares of Amicus Therapeutics in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.75.

Amicus Therapeutics Trading Up 2.9 %

The company’s fifty day simple moving average is $9.41 and its two-hundred day simple moving average is $10.20. The company has a quick ratio of 2.42, a current ratio of 3.39 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -49.33, a price-to-earnings-growth ratio of 1.51 and a beta of 0.69.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently bought and sold shares of the company. OLD Second National Bank of Aurora bought a new stake in shares of Amicus Therapeutics during the third quarter worth $26,000. Virtus Fund Advisers LLC bought a new stake in shares of Amicus Therapeutics during the fourth quarter worth $29,000. Covestor Ltd increased its position in shares of Amicus Therapeutics by 114.9% during the fourth quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 2,312 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Amicus Therapeutics during the third quarter worth $55,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Amicus Therapeutics during the fourth quarter worth $59,000.

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.