Analysts Set Amicus Therapeutics, Inc. (NASDAQ:FOLD) Price Target at $16.75

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.75.

FOLD has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $12.00 price objective (down from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. Wells Fargo & Company decreased their price objective on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price objective on shares of Amicus Therapeutics in a research report on Wednesday, January 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOLD. Wellington Management Group LLP lifted its holdings in Amicus Therapeutics by 18.8% in the 4th quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock valued at $268,112,000 after purchasing an additional 4,497,950 shares in the last quarter. Vestal Point Capital LP purchased a new position in Amicus Therapeutics in the 4th quarter valued at about $31,557,000. Norges Bank purchased a new position in Amicus Therapeutics in the 4th quarter valued at about $29,033,000. Orbimed Advisors LLC lifted its holdings in Amicus Therapeutics by 300.7% in the 4th quarter. Orbimed Advisors LLC now owns 2,285,400 shares of the biopharmaceutical company’s stock valued at $21,528,000 after purchasing an additional 1,715,100 shares in the last quarter. Finally, Rock Springs Capital Management LP lifted its holdings in Amicus Therapeutics by 107.9% in the 4th quarter. Rock Springs Capital Management LP now owns 2,599,425 shares of the biopharmaceutical company’s stock valued at $24,487,000 after purchasing an additional 1,349,145 shares in the last quarter.

Amicus Therapeutics Stock Performance

NASDAQ:FOLD opened at $8.86 on Thursday. The company has a quick ratio of 2.42, a current ratio of 3.39 and a debt-to-equity ratio of 2.01. Amicus Therapeutics has a fifty-two week low of $8.78 and a fifty-two week high of $12.65. The stock has a market cap of $2.72 billion, a PE ratio of -49.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.69. The firm’s fifty day simple moving average is $9.43 and its 200-day simple moving average is $10.25.

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.