Amicus Therapeutics (NASDAQ:FOLD) Sets New 1-Year Low – Time to Sell?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) hit a new 52-week low on Tuesday . The stock traded as low as $8.52 and last traded at $8.60, with a volume of 107904 shares traded. The stock had previously closed at $8.69.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of Amicus Therapeutics in a research report on Wednesday, January 15th. Morgan Stanley reissued an “equal weight” rating and set a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. Finally, StockNews.com lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Three investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $16.75.

Amicus Therapeutics Trading Down 0.9 %

The company has a quick ratio of 2.42, a current ratio of 3.39 and a debt-to-equity ratio of 2.01. The business has a 50-day simple moving average of $9.34 and a 200-day simple moving average of $10.04. The company has a market cap of $2.65 billion, a PE ratio of -47.86, a price-to-earnings-growth ratio of 1.51 and a beta of 0.69.

Institutional Trading of Amicus Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Amicus Therapeutics by 18.8% during the 4th quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock worth $268,112,000 after purchasing an additional 4,497,950 shares during the last quarter. Vestal Point Capital LP acquired a new stake in Amicus Therapeutics in the fourth quarter valued at $31,557,000. Norges Bank purchased a new stake in Amicus Therapeutics during the 4th quarter worth about $29,033,000. Orbimed Advisors LLC boosted its position in shares of Amicus Therapeutics by 300.7% during the 4th quarter. Orbimed Advisors LLC now owns 2,285,400 shares of the biopharmaceutical company’s stock worth $21,528,000 after acquiring an additional 1,715,100 shares in the last quarter. Finally, Rock Springs Capital Management LP boosted its position in shares of Amicus Therapeutics by 107.9% during the 4th quarter. Rock Springs Capital Management LP now owns 2,599,425 shares of the biopharmaceutical company’s stock worth $24,487,000 after acquiring an additional 1,349,145 shares in the last quarter.

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.