Amicus Therapeutics (NASDAQ:FOLD) Given New $17.00 Price Target at Wells Fargo & Company

Amicus Therapeutics (NASDAQ:FOLD) had its target price cut by Wells Fargo & Company from $18.00 to $17.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on FOLD. Guggenheim lifted their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating and issued a $21.00 price objective on shares of Amicus Therapeutics in a report on Wednesday, January 15th. Finally, StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.75.

Amicus Therapeutics Price Performance

Shares of FOLD stock opened at $9.07 on Thursday. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The company has a market capitalization of $2.71 billion, a PE ratio of -26.68, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. The firm’s 50-day moving average is $9.56 and its two-hundred day moving average is $10.41. Amicus Therapeutics has a 12 month low of $8.78 and a 12 month high of $14.02.

Insider Buying and Selling

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $10.02, for a total transaction of $75,150.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $8,884,273.08. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning increased its stake in Amicus Therapeutics by 79.6% during the 3rd quarter. Creative Planning now owns 52,855 shares of the biopharmaceutical company’s stock worth $564,000 after buying an additional 23,433 shares during the period. Blue Trust Inc. grew its stake in shares of Amicus Therapeutics by 1,705.4% in the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 2,831 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Amicus Therapeutics by 141.1% in the third quarter. Assenagon Asset Management S.A. now owns 2,037,896 shares of the biopharmaceutical company’s stock worth $21,765,000 after acquiring an additional 1,192,489 shares in the last quarter. Legacy Capital Group California Inc. purchased a new stake in shares of Amicus Therapeutics during the third quarter worth $206,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Amicus Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 1,884 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.