Amicus Therapeutics (NASDAQ:FOLD) Earns “Equal Weight” Rating from Morgan Stanley

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “equal weight” rating reissued by Morgan Stanley in a report issued on Friday, MarketBeat Ratings reports. They currently have a $12.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $17.00. Morgan Stanley’s target price points to a potential upside of 28.21% from the stock’s previous close.

FOLD has been the topic of several other reports. 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 target on the stock. StockNews.com raised shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Guggenheim increased their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald increased their price target on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.88.

Amicus Therapeutics Stock Down 7.8 %

NASDAQ:FOLD opened at $9.36 on Friday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -27.53 and a beta of 0.60. Amicus Therapeutics has a 1-year low of $9.02 and a 1-year high of $14.57. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. The business’s fifty day moving average price is $10.52 and its 200 day moving average price is $10.61.

Insiders Place Their Bets

In related news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $11.46, for a total value of $85,950.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $10,161,054.84. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 30,401 shares of company stock valued at $339,363. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Amicus Therapeutics

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in Amicus Therapeutics during the 3rd quarter worth $107,000. Old West Investment Management LLC raised its position in shares of Amicus Therapeutics by 617.2% during the third quarter. Old West Investment Management LLC now owns 340,441 shares of the biopharmaceutical company’s stock worth $3,636,000 after acquiring an additional 292,976 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Amicus Therapeutics during the third quarter valued at $702,000. 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 during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Amicus Therapeutics in the third quarter worth about $405,000.

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.