Amicus Therapeutics, Inc. (NASDAQ:FOLD) Sees Significant Decrease in Short Interest

Amicus Therapeutics, Inc. (NASDAQ:FOLD) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 19,900,000 shares, a decrease of 9.3% from the October 15th total of 21,940,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is presently 8.3 days.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Guggenheim increased their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley decreased their target price on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Cantor Fitzgerald boosted their price objective on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.63.

Amicus Therapeutics Stock Down 2.3 %

NASDAQ:FOLD traded down $0.22 during mid-day trading on Tuesday, reaching $9.44. The stock had a trading volume of 897,177 shares, compared to its average volume of 2,718,011. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57. The business has a 50 day simple moving average of $10.96 and a 200 day simple 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.

Insider Buying and Selling at Amicus Therapeutics

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

Institutional Trading of Amicus Therapeutics

Hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. purchased a new position in Amicus Therapeutics in the second quarter worth $8,386,000. M&G Plc lifted its stake in shares of Amicus Therapeutics by 12.4% in the second quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after purchasing an additional 82,728 shares during the period. Edgestream Partners L.P. boosted its holdings in Amicus Therapeutics by 1,290.4% during the first quarter. Edgestream Partners L.P. now owns 270,164 shares of the biopharmaceutical company’s stock worth $3,183,000 after buying an additional 250,734 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Amicus Therapeutics by 7.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 100,538 shares of the biopharmaceutical company’s stock worth $1,183,000 after buying an additional 7,304 shares during the period. Finally, Fiera Capital Corp increased its holdings in Amicus Therapeutics by 1.1% in the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock valued at $52,382,000 after buying an additional 58,113 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.