Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up – Should You Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s share 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FOLD shares. Bank of America lifted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Cantor Fitzgerald upped their price target on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. StockNews.com downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.88.

Amicus Therapeutics Trading Down 0.2 %

The company has a fifty day moving average price of $9.86 and a 200-day moving average price of $10.54. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -27.09 and a beta of 0.62. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18.

Insider Buying and Selling at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $10.02, for a total transaction of $75,150.00. Following the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,884,273.08. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 22,901 shares of company stock worth $259,863 over the last ninety days. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amicus Therapeutics

A number of large investors have recently bought and sold shares of the business. Xponance Inc. raised its holdings in Amicus Therapeutics by 5.3% during the second quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 936 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Amicus Therapeutics by 156.9% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,569 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Amicus Therapeutics by 21.3% in the 3rd 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. OLD Second National Bank of Aurora acquired a new stake in Amicus Therapeutics in the 3rd quarter worth approximately $26,000. Finally, AlphaCentric Advisors LLC boosted its position in Amicus Therapeutics by 1.2% during the third quarter. AlphaCentric Advisors LLC now owns 205,000 shares of the biopharmaceutical company’s stock worth $2,189,000 after purchasing an additional 2,500 shares during the period.

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.