Amicus Therapeutics, Inc. (NASDAQ:FOLD) Short Interest Update

Amicus Therapeutics, Inc. (NASDAQ:FOLD) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 19,600,000 shares, a drop of 5.9% from the November 30th total of 20,830,000 shares. Based on an average trading volume of 2,550,000 shares, the short-interest ratio is presently 7.7 days.

Analyst Upgrades and Downgrades

FOLD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Bank of America boosted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group assumed coverage on Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target for the company. Guggenheim boosted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Stock Performance

Shares of FOLD traded up $0.01 during mid-day trading on Wednesday, hitting $9.42. 1,363,928 shares of the company’s stock were exchanged, compared to its average volume of 2,690,285. The stock’s 50-day simple moving average is $10.21 and its 200-day simple moving average is $10.57. Amicus Therapeutics has a 52 week low of $9.02 and a 52 week high of $14.53. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -27.71 and a beta of 0.60.

Insider Activity at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.02, for a total value of $75,150.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $8,884,273.08. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 22,901 shares of company stock worth $259,863 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake 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 purchasing an additional 2,856,101 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Amicus Therapeutics by 12.8% during the 2nd quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock worth $128,993,000 after buying an additional 1,477,084 shares during the last quarter. Geode Capital Management LLC grew its position in Amicus Therapeutics by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company’s stock valued at $70,499,000 after acquiring an additional 80,926 shares during the last quarter. Fiera Capital Corp raised its stake in Amicus Therapeutics by 1.1% during the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock worth $52,382,000 after acquiring an additional 58,113 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Amicus Therapeutics by 4.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,160,027 shares of the biopharmaceutical company’s stock worth $33,749,000 after acquiring an additional 139,491 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.