Amicus Therapeutics (NASDAQ:FOLD) Hits New 12-Month Low – Time to Sell?

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares hit 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 Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 target price on shares of Amicus Therapeutics in a research report on Wednesday, January 15th. StockNews.com lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Morgan Stanley reiterated 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $16.75.

Amicus Therapeutics Price Performance

The stock has a market capitalization of $2.51 billion, a PE ratio of -45.42, a P/E/G ratio of 1.51 and a beta of 0.69. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.39 and a quick ratio of 2.42. The stock’s fifty day moving average is $9.28 and its 200-day moving average is $9.95.

Institutional Investors Weigh In On Amicus Therapeutics

Hedge funds have recently modified their holdings of the company. HealthInvest Partners AB raised its holdings in Amicus Therapeutics by 18.6% in the 4th quarter. HealthInvest Partners AB now owns 326,840 shares of the biopharmaceutical company’s stock worth $3,076,000 after purchasing an additional 51,368 shares during the period. Wellington Management Group LLP increased its position in shares of Amicus Therapeutics by 13.5% in the third quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock valued at $255,936,000 after buying an additional 2,856,101 shares in the last quarter. Tempus Wealth Planning LLC acquired a new position in shares of Amicus Therapeutics during the 4th quarter worth approximately $259,000. Neo Ivy Capital Management purchased a new position in shares of Amicus Therapeutics during the 3rd quarter valued at approximately $702,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Amicus Therapeutics by 35.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 302,536 shares of the biopharmaceutical company’s stock valued at $2,850,000 after acquiring an additional 79,602 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.