Amicus Therapeutics’ (FOLD) Equal Weight Rating Reiterated at Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Amicus Therapeutics (NASDAQ:FOLD) in a research note released on Friday, MarketBeat Ratings reports. Morgan Stanley currently has a $12.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $17.00.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective on the stock. Cantor Fitzgerald increased their price target on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Guggenheim lifted their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America 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, October 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Stock Performance

Amicus Therapeutics stock opened at $9.36 on Friday. The company has a market cap of $2.80 billion, a PE ratio of -27.53 and a beta of 0.60. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. Amicus Therapeutics has a 1 year low of $9.02 and a 1 year high of $14.57. The company’s 50-day moving average is $10.52 and its two-hundred day moving average is $10.62.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $11.46, for a total value of $85,950.00. Following the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $10,161,054.84. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 30,401 shares of company stock worth $339,363 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OLD Second National Bank of Aurora acquired a new stake in shares of Amicus Therapeutics in the third quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its position in shares of Amicus Therapeutics by 156.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 1,569 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Amicus Therapeutics by 1,705.4% during the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 2,831 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Amicus Therapeutics in the 3rd quarter valued at approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Amicus Therapeutics in the third quarter valued at $55,000.

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.