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

Amicus Therapeutics (NASDAQ:FOLD) had its price objective dropped by equities research analysts at Wells Fargo & Company from $18.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 77.82% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim increased their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 target price (down from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. 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 a consensus target price of $16.75.

Amicus Therapeutics Trading Down 2.9 %

Shares of FOLD opened at $9.56 on Thursday. The stock has a market capitalization of $2.86 billion, a P/E ratio of -28.12, a PEG ratio of 1.65 and a beta of 0.61. 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 firm has a fifty day simple moving average of $9.58 and a two-hundred day simple moving average of $10.42. Amicus Therapeutics has a twelve month low of $8.78 and a twelve month high of $14.02.

Insider Activity at Amicus Therapeutics

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

Institutional Trading of Amicus Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of FOLD. Creative Planning increased its stake in Amicus Therapeutics by 79.6% during the 3rd quarter. Creative Planning now owns 52,855 shares of the biopharmaceutical company’s stock valued at $564,000 after purchasing an additional 23,433 shares in the last quarter. Blue Trust Inc. increased its stake in Amicus Therapeutics by 1,705.4% during the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 2,831 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Amicus Therapeutics by 141.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,037,896 shares of the biopharmaceutical company’s stock valued at $21,765,000 after purchasing an additional 1,192,489 shares in the last quarter. Legacy Capital Group California Inc. bought a new stake in Amicus Therapeutics during the 3rd quarter valued at about $206,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Amicus Therapeutics by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing 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.