Amicus Therapeutics (NASDAQ:FOLD) Reaches New 12-Month Low – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price reached a new 52-week low on Friday . The stock traded as low as $8.97 and last traded at $9.01, with a volume of 512437 shares changing hands. The stock had previously closed at $9.46.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FOLD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. Cantor Fitzgerald raised their price objective 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 shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, 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. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Trading Down 4.7 %

The company has a 50-day moving average price of $9.90 and a 200 day moving average price of $10.54. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -26.53 and a beta of 0.62. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,901 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total value of $98,762.50. Following the completion of the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $11,083,175. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 22,901 shares of company stock valued at $259,863. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FOLD. OLD Second National Bank of Aurora acquired a new stake in Amicus Therapeutics in the third quarter worth about $26,000. Hazlett Burt & Watson Inc. grew its holdings 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 buying an additional 1,569 shares during the period. Blue Trust Inc. increased its stake in Amicus Therapeutics by 1,705.4% during the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 2,831 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Amicus Therapeutics during the 3rd quarter worth about $32,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Amicus Therapeutics in the third quarter valued at about $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.