Amicus Therapeutics (NASDAQ:FOLD) Sets New 1-Year Low – Here’s What Happened

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) reached a new 52-week low on Monday . The stock traded as low as $8.78 and last traded at $8.75, with a volume of 35093 shares trading hands. The stock had previously closed at $8.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. 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. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. StockNews.com lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company cut their target price on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.75.

Amicus Therapeutics Stock Down 2.4 %

The firm has a 50-day simple moving average of $9.43 and a 200 day simple moving average of $10.24. 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 stock has a market capitalization of $2.66 billion, a P/E ratio of -47.97, a P/E/G ratio of 1.51 and a beta of 0.69.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake 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 last quarter. Wellington Management Group LLP lifted its stake in Amicus Therapeutics by 18.8% in the fourth quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock worth $268,112,000 after acquiring an additional 4,497,950 shares during the period. Geode Capital Management LLC boosted its holdings 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 in the last quarter. Nuveen Asset Management LLC increased its position in Amicus Therapeutics by 4.4% during the 4th quarter. Nuveen Asset Management LLC now owns 3,807,420 shares of the biopharmaceutical company’s stock valued at $35,866,000 after purchasing an additional 159,139 shares during the period. Finally, Northern Trust Corp raised its holdings in Amicus Therapeutics by 5.9% in the 4th quarter. Northern Trust Corp now owns 3,371,639 shares of the biopharmaceutical company’s stock worth $31,761,000 after purchasing an additional 187,652 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.