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

StockNews.com upgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a buy rating in a report published on Wednesday.

FOLD has been the topic of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Monday, January 13th. Guggenheim increased 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, November 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price objective on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Morgan Stanley reiterated an “equal weight” rating and issued a $12.00 price objective (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.88.

Amicus Therapeutics Stock Up 1.3 %

NASDAQ:FOLD opened at $9.77 on Wednesday. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18. The stock’s fifty day moving average is $9.60 and its two-hundred day moving average is $10.43. Amicus Therapeutics has a 52 week low of $8.78 and a 52 week high of $14.03. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -28.74, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61.

Insider Activity at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.02, for a total value of $75,150.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $8,884,273.08. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds have recently made changes to their positions in FOLD. Wellington Management Group LLP grew its holdings 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 during the last quarter. Norges Bank purchased a new position in shares of Amicus Therapeutics during the fourth quarter worth about $29,033,000. Rock Springs Capital Management LP grew its holdings in shares of 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. Renaissance Technologies LLC grew its holdings in shares of Amicus Therapeutics by 174.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,108,616 shares of the biopharmaceutical company’s stock worth $19,863,000 after purchasing an additional 1,339,316 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Amicus Therapeutics during the 3rd quarter valued at approximately $13,530,000.

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.