Amicus Therapeutics (NASDAQ:FOLD) Stock Price Down 2.5% – What’s Next?

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price was down 2.5% on Monday . The stock traded as low as $8.85 and last traded at $8.79. Approximately 346,618 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,271,696 shares. The stock had previously closed at $9.01.

Analysts Set New Price Targets

A number of research firms recently commented on FOLD. Wells Fargo & Company decreased their price objective on Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. StockNews.com downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. 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. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Finally, Morgan Stanley restated an “equal weight” rating and set a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Amicus Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $16.75.

Amicus Therapeutics Stock Performance

The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -47.89, a PEG ratio of 1.51 and a beta of 0.69. The firm has a 50 day moving average price of $9.33 and a 200-day moving average price of $10.01. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.39 and a quick ratio of 2.42.

Hedge Funds Weigh In On Amicus Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Amicus Therapeutics by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock worth $268,112,000 after purchasing an additional 4,497,950 shares in the last quarter. Vestal Point Capital LP acquired a new position in shares of Amicus Therapeutics during the 4th quarter worth about $31,557,000. Norges Bank purchased a new position in shares of Amicus Therapeutics in the 4th quarter valued at about $29,033,000. Orbimed Advisors LLC increased its holdings in shares of Amicus Therapeutics by 300.7% in the 4th quarter. Orbimed Advisors LLC now owns 2,285,400 shares of the biopharmaceutical company’s stock valued at $21,528,000 after acquiring an additional 1,715,100 shares during the last quarter. Finally, Rock Springs Capital Management LP lifted its stake in Amicus Therapeutics by 107.9% during the fourth quarter. Rock Springs Capital Management LP now owns 2,599,425 shares of the biopharmaceutical company’s stock worth $24,487,000 after purchasing an additional 1,349,145 shares during the last quarter.

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.