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

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price gapped down before the market opened 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FOLD shares. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, November 7th. Morgan Stanley reduced their price objective on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Jefferies Financial Group initiated coverage on Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. Bank of America upped their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Guggenheim boosted 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, November 7th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Amicus Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $17.63.

Amicus Therapeutics Stock Performance

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’s 50 day moving average price is $10.89 and its two-hundred day moving average price is $10.59. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -28.21 and a beta of 0.68.

Insider Buying and Selling at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $9,398,532.40. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 30,401 shares of company stock valued at $352,038. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Large investors have recently bought and sold shares of the company. OLD Second National Bank of Aurora acquired a new stake in Amicus Therapeutics in the 3rd quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Amicus Therapeutics by 156.9% in the third 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 in the last quarter. Blue Trust Inc. grew its position in shares of Amicus Therapeutics by 1,705.4% in the third 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. Arcadia Investment Management Corp MI purchased a new position in shares of Amicus Therapeutics during the 3rd quarter worth approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Amicus Therapeutics during the 3rd quarter worth approximately $55,000.

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.