Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up – Here’s Why

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) gapped up prior to trading on Monday . The stock had previously closed at $9.02, but opened at $9.44. Amicus Therapeutics shares last traded at $9.00, with a volume of 129,401 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com lowered Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Bank of America upped their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley reissued an “equal weight” rating and set a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Amicus Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $16.88.

Amicus Therapeutics Trading Down 1.7 %

The company has a fifty day moving average of $9.90 and a 200-day moving average of $10.55. 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 company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -26.09 and a beta of 0.62.

Insider Buying and Selling

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,901 shares of Amicus Therapeutics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total transaction of $98,762.50. Following the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $11,083,175. The trade was a 0.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 22,901 shares of company stock worth $259,863. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of FOLD. Wellington Management Group LLP raised its holdings in Amicus Therapeutics by 13.5% in the 3rd quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock valued at $255,936,000 after acquiring an additional 2,856,101 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Amicus Therapeutics during the third quarter worth approximately $702,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Amicus Therapeutics by 51.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,934 shares of the biopharmaceutical company’s stock valued at $2,381,000 after buying an additional 75,807 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Amicus Therapeutics by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company’s stock worth $28,486,000 after acquiring an additional 242,672 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in shares of Amicus Therapeutics by 24.2% in the second quarter. Mutual of America Capital Management LLC now owns 250,293 shares of the biopharmaceutical company’s stock valued at $2,483,000 after purchasing an additional 48,802 shares during the period.

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.