Amicus Therapeutics (NASDAQ:FOLD) Stock Price Up 5.2% – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price rose 5.2% on Monday . The stock traded as high as $9.99 and last traded at $9.85. Approximately 720,401 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,711,465 shares. The stock had previously closed at $9.36.

Analysts Set New Price Targets

FOLD has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, November 7th. Bank of America lifted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $12.00 price target (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Friday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.88.

Amicus Therapeutics Stock Up 6.0 %

The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $2.96 billion, a PE ratio of -28.71 and a beta of 0.60. The stock’s fifty day simple moving average is $10.52 and its 200-day simple moving average is $10.62.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Friday, November 1st. The stock was sold at an average price of $11.46, for a total transaction of $85,950.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $10,161,054.84. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 30,401 shares of company stock valued at $339,363 in the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amicus Therapeutics

A number of hedge funds have recently made changes to their positions in FOLD. Assenagon Asset Management S.A. bought a new stake in shares of Amicus Therapeutics during the 2nd quarter worth $8,386,000. AlphaCentric Advisors LLC raised its stake in Amicus Therapeutics by 15.7% in the 2nd quarter. AlphaCentric Advisors LLC now owns 202,500 shares of the biopharmaceutical company’s stock valued at $2,009,000 after acquiring an additional 27,500 shares during the period. Bank of New York Mellon Corp raised its stake in Amicus Therapeutics by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,245,115 shares of the biopharmaceutical company’s stock valued at $12,352,000 after acquiring an additional 82,065 shares during the period. Legato Capital Management LLC raised its stake in Amicus Therapeutics by 864.0% in the 2nd quarter. Legato Capital Management LLC now owns 101,703 shares of the biopharmaceutical company’s stock valued at $1,009,000 after acquiring an additional 91,153 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Amicus Therapeutics by 6.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,471 shares of the biopharmaceutical company’s stock valued at $501,000 after acquiring an additional 2,918 shares during the period.

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.