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

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) reached a new 52-week low during trading on Monday . The company traded as low as $7.97 and last traded at $8.09, with a volume of 400639 shares traded. The stock had previously closed at $8.43.

Wall Street Analyst Weigh In

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

Amicus Therapeutics Stock Down 3.3 %

The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.42 and a current ratio of 3.39. The business has a 50 day simple moving average of $9.28 and a 200-day simple moving average of $9.95. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -45.42, a P/E/G ratio of 1.51 and a beta of 0.69.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of 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 buying an additional 4,497,950 shares during the period. Vestal Point Capital LP purchased a new stake in shares of Amicus Therapeutics during the 4th quarter valued at approximately $31,557,000. Norges Bank acquired a new position in Amicus Therapeutics in the fourth quarter valued at approximately $29,033,000. Orbimed Advisors LLC grew its position in Amicus Therapeutics by 300.7% in the fourth quarter. Orbimed Advisors LLC now owns 2,285,400 shares of the biopharmaceutical company’s stock worth $21,528,000 after acquiring an additional 1,715,100 shares during the period. Finally, Rock Springs Capital Management LP increased its stake in Amicus Therapeutics by 107.9% during the fourth quarter. Rock Springs Capital Management LP now owns 2,599,425 shares of the biopharmaceutical company’s stock worth $24,487,000 after acquiring an additional 1,349,145 shares during 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.