JPMorgan Chase & Co. Issues Positive Forecast for Amicus Therapeutics (NASDAQ:FOLD) Stock Price

Amicus Therapeutics (NASDAQ:FOLD) had its price target raised by JPMorgan Chase & Co. from $16.00 to $17.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms also recently issued reports on FOLD. Morgan Stanley decreased their price objective on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, October 11th. StockNews.com downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Bank of America raised their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group started coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Guggenheim raised their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.63.

Amicus Therapeutics Stock Performance

Shares of FOLD stock opened at $9.68 on Tuesday. Amicus Therapeutics has a one year low of $9.02 and a one year high of $14.57. The firm has a 50-day moving average of $11.00 and a 200-day moving average of $10.61. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The company has a market cap of $2.89 billion, a P/E ratio of -28.47 and a beta of 0.68.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total transaction of $79,500.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $9,398,532.40. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 30,401 shares of company stock valued at $352,038 over the last quarter. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds have recently bought and sold shares of FOLD. OLD Second National Bank of Aurora purchased a new position in Amicus Therapeutics during the third quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. grew its stake in Amicus Therapeutics by 156.9% during the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,569 shares in the last quarter. Blue Trust Inc. grew its stake in Amicus Therapeutics by 1,705.4% in the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 2,831 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Amicus Therapeutics in the 3rd quarter worth approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Amicus Therapeutics in the 3rd quarter worth approximately $55,000.

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.