Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Down – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD) 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.

Analyst Ratings Changes

Several brokerages have recently weighed in on FOLD. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target on the stock. Guggenheim raised their price target 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. Cantor Fitzgerald upped their price target on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.63.

Amicus Therapeutics Stock Performance

The stock has a market capitalization of $2.87 billion, a PE ratio of -28.21 and a beta of 0.68. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18. The stock has a fifty day moving average of $10.89 and a 200-day moving average of $10.59.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 owns 886,654 shares in the company, valued at $9,398,532.40. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 30,401 shares of company stock worth $352,038. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. OLD Second National Bank of Aurora purchased a new stake in Amicus Therapeutics during the 3rd quarter worth about $26,000. Hazlett Burt & Watson Inc. boosted its holdings in 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. increased its stake in 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 acquired a new stake in Amicus Therapeutics during the third quarter worth approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Amicus Therapeutics in the 3rd quarter valued at $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.