Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Down – Time to Sell?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) gapped down prior to trading on Tuesday . The stock had previously closed at $9.66, but opened at $9.37. Amicus Therapeutics shares last traded at $9.45, with a volume of 191,497 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FOLD shares. Morgan Stanley lowered their price objective on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Cantor Fitzgerald lifted their target price on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group began coverage on Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.63.

Amicus Therapeutics Stock Down 2.0 %

The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The stock’s 50 day simple moving average is $10.96 and its two-hundred day simple moving average is $10.61.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,901 shares of Amicus Therapeutics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total value of $98,762.50. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $11,083,175. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 30,401 shares of company stock valued at $352,038. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors have recently modified their holdings of FOLD. Neo Ivy Capital Management bought a new position in Amicus Therapeutics in the third quarter valued at approximately $702,000. Geode Capital Management LLC lifted its stake in shares of Amicus Therapeutics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company’s stock valued at $70,499,000 after purchasing an additional 80,926 shares during the period. XTX Topco Ltd bought a new position in shares of Amicus Therapeutics in the 3rd quarter worth $405,000. Wellington Management Group LLP grew its stake in shares of Amicus Therapeutics by 13.5% during the third quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock worth $255,936,000 after purchasing an additional 2,856,101 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Amicus Therapeutics in the third quarter valued at about $704,000.

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.