Amicus Therapeutics (NASDAQ:FOLD) Shares Down 2.5% – Here’s Why

Amicus Therapeutics, Inc. (NASDAQ:FOLD) traded down 2.5% during trading on Monday . The company traded as low as $8.85 and last traded at $8.79. 346,618 shares were traded during mid-day trading, a decline of 85% from the average session volume of 2,271,696 shares. The stock had previously closed at $9.01.

Analyst Ratings Changes

FOLD has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price target on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Morgan Stanley reiterated an “equal weight” rating and set a $12.00 price target (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Wells Fargo & Company dropped their price objective on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. StockNews.com lowered Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $16.75.

Amicus Therapeutics Price Performance

The company has a debt-to-equity ratio of 2.01, a current ratio of 3.39 and a quick ratio of 2.42. The firm has a market capitalization of $2.65 billion, a PE ratio of -47.89, a P/E/G ratio of 1.51 and a beta of 0.69. The company has a 50-day moving average price of $9.33 and a 200-day moving average price of $10.01.

Institutional Investors Weigh In On Amicus Therapeutics

Hedge funds have recently modified their holdings of the company. Summit Investment Advisors Inc. lifted its stake in shares of Amicus Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 30,696 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 1,280 shares during the period. Xponance Inc. lifted its stake in shares of Amicus Therapeutics by 11.9% during the 4th quarter. Xponance Inc. now owns 21,216 shares of the biopharmaceutical company’s stock worth $200,000 after purchasing an additional 2,249 shares during the period. Covestor Ltd lifted its stake in shares of Amicus Therapeutics by 114.9% during the 4th quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 2,312 shares during the period. Virtus Fund Advisers LLC purchased a new stake in shares of Amicus Therapeutics in the fourth quarter valued at $29,000. Finally, KBC Group NV increased its stake in Amicus Therapeutics by 44.4% in the fourth quarter. KBC Group NV now owns 10,154 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 3,120 shares during 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.