Amicus Therapeutics (NASDAQ:FOLD) Hits New 52-Week Low – What’s Next?

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $8.52 and last traded at $8.60, with a volume of 107904 shares changing hands. The stock had previously closed at $8.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FOLD shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $21.00 target price on shares of Amicus Therapeutics in a research report on Wednesday, January 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Wells Fargo & Company cut their target price on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. StockNews.com downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.75.

Amicus Therapeutics Trading Down 1.2 %

The business has a 50 day moving average price of $9.31 and a 200 day moving average price of $10.00. The company has a market capitalization of $2.62 billion, a P/E ratio of -47.33, a PEG ratio of 1.51 and a beta of 0.69. The company has a current ratio of 3.39, a quick ratio of 2.42 and a debt-to-equity ratio of 2.01.

Hedge Funds Weigh In On Amicus Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Amicus Therapeutics by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company’s stock worth $268,112,000 after acquiring an additional 4,497,950 shares in the last quarter. Vestal Point Capital LP acquired a new position in shares of Amicus Therapeutics in the 4th quarter valued at approximately $31,557,000. Norges Bank bought a new stake in Amicus Therapeutics during the 4th quarter worth approximately $29,033,000. Orbimed Advisors LLC raised its holdings in Amicus Therapeutics by 300.7% during the 4th quarter. Orbimed Advisors LLC now owns 2,285,400 shares of the biopharmaceutical company’s stock worth $21,528,000 after buying an additional 1,715,100 shares during the period. Finally, Rock Springs Capital Management LP lifted its stake in Amicus Therapeutics by 107.9% in the fourth quarter. Rock Springs Capital Management LP now owns 2,599,425 shares of the biopharmaceutical company’s stock valued at $24,487,000 after buying an additional 1,349,145 shares in the last quarter.

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.