Amicus Therapeutics (NASDAQ:FOLD) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a buy rating in a research report sent to investors on Saturday.

FOLD has been the topic of a number of other research reports. Jefferies Financial Group initiated coverage on Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Bank of America lifted 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, October 17th. Cantor Fitzgerald increased their price target on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Guggenheim boosted their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $17.63.

Amicus Therapeutics Stock Performance

Shares of NASDAQ FOLD opened at $9.68 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The business’s 50 day moving average price is $11.00 and its two-hundred day moving average price is $10.61. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57.

Insider Transactions at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total transaction of $79,500.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $9,398,532.40. This represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 30,401 shares of company stock valued at $352,038. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of Amicus Therapeutics in the 2nd quarter valued at approximately $8,386,000. M&G Plc raised its position in Amicus Therapeutics by 12.4% during the second quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after purchasing an additional 82,728 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Amicus Therapeutics by 1,290.4% during the first quarter. Edgestream Partners L.P. now owns 270,164 shares of the biopharmaceutical company’s stock worth $3,183,000 after purchasing an additional 250,734 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Amicus Therapeutics by 7.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 100,538 shares of the biopharmaceutical company’s stock valued at $1,183,000 after purchasing an additional 7,304 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in shares of Amicus Therapeutics by 1.1% in the 2nd quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock valued at $52,382,000 after purchasing an additional 58,113 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.