Amicus Therapeutics (NASDAQ:FOLD) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a research note published on Saturday.

FOLD has been the subject of a number of other research reports. Needham & Company LLC raised shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Thursday, September 18th. Zacks Research upgraded shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Morgan Stanley upgraded shares of Amicus Therapeutics from an “equal weight” rating to an “overweight” rating in a research report on Thursday, July 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Amicus Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.88.

Amicus Therapeutics Stock Up 5.0%

FOLD opened at $8.44 on Friday. Amicus Therapeutics has a fifty-two week low of $5.51 and a fifty-two week high of $12.65. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.29 and a current ratio of 3.21. The company has a fifty day moving average of $7.91 and a two-hundred day moving average of $6.89. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -70.33 and a beta of 0.56.

Hedge Funds Weigh In On Amicus Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in Amicus Therapeutics by 2.6% during the first quarter. Wellington Management Group LLP now owns 29,200,617 shares of the biopharmaceutical company’s stock worth $238,277,000 after acquiring an additional 738,623 shares during the last quarter. Vestal Point Capital LP boosted its position in Amicus Therapeutics by 178.4% during the second quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock worth $68,187,000 after acquiring an additional 7,625,000 shares during the last quarter. State Street Corp boosted its position in Amicus Therapeutics by 21.5% during the second quarter. State Street Corp now owns 11,568,097 shares of the biopharmaceutical company’s stock worth $66,285,000 after acquiring an additional 2,049,078 shares during the last quarter. Redmile Group LLC boosted its position in Amicus Therapeutics by 35.1% during the first quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company’s stock worth $77,795,000 after acquiring an additional 2,478,779 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Amicus Therapeutics by 20.7% during the second quarter. Bank of America Corp DE now owns 6,847,275 shares of the biopharmaceutical company’s stock worth $39,235,000 after acquiring an additional 1,172,596 shares during the last quarter.

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.