Amicus Therapeutics (NASDAQ:FOLD) Stock Price Down 2.5% – Should You Sell?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) fell 2.5% on Monday . The company traded as low as $8.85 and last traded at $8.79. 346,618 shares changed hands during 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 a number of recent analyst reports. StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price objective on Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 target price on shares of Amicus Therapeutics in a report on Wednesday, January 15th. Morgan Stanley reaffirmed 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.75.

Amicus Therapeutics Price Performance

The company’s 50 day simple moving average is $9.35 and its 200 day simple moving average is $10.06. The company has a current ratio of 3.39, a quick ratio of 2.42 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $2.68 billion, a PE ratio of -48.50, a PEG ratio of 1.51 and a beta of 0.69.

Institutional Investors Weigh In On Amicus Therapeutics

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Amicus Therapeutics by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,258,963 shares of the biopharmaceutical company’s stock worth $275,619,000 after purchasing an additional 458,143 shares during the period. Wellington Management Group LLP raised its position in shares of Amicus Therapeutics by 18.8% in the 4th quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock worth $268,112,000 after buying an additional 4,497,950 shares during the period. Geode Capital Management LLC grew its position in Amicus Therapeutics by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company’s stock valued at $70,499,000 after acquiring an additional 80,926 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Amicus Therapeutics by 4.4% in the 4th quarter. Nuveen Asset Management LLC now owns 3,807,420 shares of the biopharmaceutical company’s stock valued at $35,866,000 after purchasing an additional 159,139 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Amicus Therapeutics by 5.9% during the 4th quarter. Northern Trust Corp now owns 3,371,639 shares of the biopharmaceutical company’s stock worth $31,761,000 after purchasing an additional 187,652 shares during the period.

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.