Amicus Therapeutics (NASDAQ:FOLD) Reaches New 52-Week Low – Time to Sell?

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $6.99 and last traded at $7.03, with a volume of 149076 shares. The stock had previously closed at $7.50.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FOLD. StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $12.00 target price (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price objective on shares of Amicus Therapeutics in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their price target on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Amicus Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $16.75.

Amicus Therapeutics Price Performance

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 company’s 50 day moving average price is $9.12 and its 200 day moving average price is $9.84. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -39.78, a PEG ratio of 1.51 and a beta of 0.79.

Institutional Investors Weigh In On Amicus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in FOLD. GF Fund Management CO. LTD. purchased a new stake in shares of Amicus Therapeutics in the fourth quarter valued at approximately $59,000. Neo Ivy Capital Management boosted its position in shares of Amicus Therapeutics by 501.6% during the 4th quarter. Neo Ivy Capital Management now owns 395,745 shares of the biopharmaceutical company’s stock worth $3,727,000 after purchasing an additional 329,959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Amicus Therapeutics by 96.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 958,671 shares of the biopharmaceutical company’s stock worth $9,031,000 after purchasing an additional 471,902 shares during the period. Vestal Point Capital LP purchased a new position in shares of Amicus Therapeutics in the 4th quarter valued at about $31,557,000. Finally, Sovereign s Capital Management LLC acquired a new stake in shares of Amicus Therapeutics in the fourth quarter valued at about $2,806,000.

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.