Amicus Therapeutics (NASDAQ:FOLD) Shares Up 7.8% – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD) rose 7.8% during trading on Tuesday . The company traded as high as $9.55 and last traded at $9.5550. Approximately 2,109,253 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 4,123,420 shares. The stock had previously closed at $8.86.

Analyst Ratings Changes

FOLD has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Amicus Therapeutics in a research report on Wednesday, October 8th. Morgan Stanley upgraded Amicus Therapeutics from an “equal weight” rating to an “overweight” rating in a research note on Thursday, July 17th. Wall Street Zen upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Needham & Company LLC raised Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Thursday, September 18th. Finally, Zacks Research raised Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

Amicus Therapeutics Stock Up 4.4%

The company has a debt-to-equity ratio of 1.92, a current ratio of 3.21 and a quick ratio of 2.29. The stock has a market capitalization of $2.85 billion, a PE ratio of -77.29 and a beta of 0.56. The company has a 50 day moving average price of $8.19 and a 200-day moving average price of $7.03.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently made changes to their positions in the company. Tempus Wealth Planning LLC boosted its position in shares of Amicus Therapeutics by 7.2% during the first quarter. Tempus Wealth Planning LLC now owns 29,513 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 1,990 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Amicus Therapeutics by 2.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 83,764 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 2,263 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Amicus Therapeutics by 4.0% in the third quarter. Arizona State Retirement System now owns 72,846 shares of the biopharmaceutical company’s stock worth $574,000 after purchasing an additional 2,832 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Amicus Therapeutics by 27.4% in the first quarter. Stephens Inc. AR now owns 13,655 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 2,938 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Amicus Therapeutics by 450.1% in the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 3,358 shares during the last quarter.

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.