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

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

A number of other analysts have also recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $21.00 price target on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday. Guggenheim upped their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and seven 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 a consensus price target of $16.75.

Amicus Therapeutics Stock Performance

Shares of FOLD stock 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 current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. The firm’s 50 day moving average is $9.58 and its 200 day moving average is $10.42. Amicus Therapeutics has a 12 month low of $8.78 and a 12 month high of $14.02.

Insider Transactions at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction on Monday, December 2nd. The shares were 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. OLD Second National Bank of Aurora bought a new position in shares of Amicus Therapeutics during the 3rd quarter valued at $26,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Amicus Therapeutics by 156.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,569 shares during the last quarter. Virtus Fund Advisers LLC bought a new position in shares of Amicus Therapeutics during the 4th quarter valued at $29,000. Blue Trust Inc. grew its holdings in shares of 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 during the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in shares of Amicus Therapeutics during the 3rd quarter valued at $32,000.

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.