Amicus Therapeutics (NASDAQ:FOLD) Hits New 12-Month Low – What’s Next?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) reached a new 52-week low on Tuesday . The company traded as low as $8.52 and last traded at $8.60, with a volume of 107904 shares. The stock had previously closed at $8.69.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics 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 restated 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. 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 research note on Thursday, February 20th. Finally, StockNews.com downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.75.

Amicus Therapeutics Trading Down 0.9 %

The company has a debt-to-equity ratio of 2.01, a current ratio of 3.39 and a quick ratio of 2.42. The business has a 50-day moving average price of $9.34 and a two-hundred day moving average price of $10.04. The firm has a market cap of $2.65 billion, a PE ratio of -47.86, a PEG ratio of 1.51 and a beta of 0.69.

Institutional Trading of Amicus Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. HealthInvest Partners AB raised its position in shares of Amicus Therapeutics by 18.6% during the 4th quarter. HealthInvest Partners AB now owns 326,840 shares of the biopharmaceutical company’s stock worth $3,076,000 after purchasing an additional 51,368 shares during the last quarter. Wellington Management Group LLP increased its position in Amicus Therapeutics by 13.5% during the third quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock worth $255,936,000 after buying an additional 2,856,101 shares in the last quarter. Tempus Wealth Planning LLC acquired a new position in shares of Amicus Therapeutics in the fourth quarter worth $259,000. Neo Ivy Capital Management purchased a new stake in shares of Amicus Therapeutics in the third quarter valued at $702,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Amicus Therapeutics by 35.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 302,536 shares of the biopharmaceutical company’s stock valued at $2,850,000 after acquiring an additional 79,602 shares in the last quarter.

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.