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 report published on Wednesday morning.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price target on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and set a $21.00 target price on shares of Amicus Therapeutics in a report on Wednesday, January 15th. Guggenheim lifted their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 target price (down from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.88.

Amicus Therapeutics Stock Performance

Shares of Amicus Therapeutics stock opened at $9.55 on Wednesday. The company’s 50 day moving average price is $9.60 and its 200-day moving average price is $10.44. Amicus Therapeutics has a 52-week low of $8.78 and a 52-week high of $14.03. The company has a debt-to-equity ratio of 2.18, a quick ratio of 2.42 and a current ratio of 3.15.

Insider Activity

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.02, for a total transaction of $75,150.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $8,884,273.08. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Amicus Therapeutics by 1.6% in 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 lifted its stake in shares of Amicus Therapeutics by 18.8% during the 4th quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock valued at $268,112,000 after buying an additional 4,497,950 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Amicus Therapeutics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company’s stock worth $70,499,000 after buying an additional 80,926 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Amicus Therapeutics by 3.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,267,375 shares of the biopharmaceutical company’s stock worth $30,779,000 after buying an additional 107,348 shares in the last quarter. Finally, Norges Bank bought a new stake in Amicus Therapeutics during the fourth quarter valued at about $29,033,000.

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.