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

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FOLD. Morgan Stanley reissued an “equal weight” rating and set a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. 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. Cantor Fitzgerald increased their target price on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Monday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.88.

Amicus Therapeutics Stock Down 0.2 %

The firm has a 50 day moving average of $9.86 and a 200-day moving average of $10.54. 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 stock has a market capitalization of $2.75 billion, a P/E ratio of -27.09 and a beta of 0.62.

Insider Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $10,161,054.84. This trade 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 through this hyperlink. In the last quarter, insiders have sold 22,901 shares of company stock valued at $259,863. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amicus Therapeutics

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

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.