Amicus Therapeutics, Inc. (NASDAQ:FOLD) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Amicus Therapeutics has received a consensus recommendation of "Moderate Buy" from nine analysts, with eight suggesting a buy and one a hold rating.
• The average 12-month price target for the stock among analysts is $15.78, indicating positive expectations for future performance.
• In the second quarter, several institutional investors significantly increased their stakes in Amicus Therapeutics, with Osaic Holdings raising its stake by 450.1%.

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.7778.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley upgraded Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded Amicus Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Needham & Company LLC upgraded 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.

Institutional Investors Weigh In On Amicus Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its holdings in Amicus Therapeutics by 450.1% in the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 3,358 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Amicus Therapeutics by 472.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 3,677 shares during the period. Strs Ohio acquired a new position in Amicus Therapeutics in the first quarter valued at about $30,000. PNC Financial Services Group Inc. grew its stake in Amicus Therapeutics by 211.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 3,497 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Amicus Therapeutics in the first quarter valued at about $53,000.

Amicus Therapeutics Stock Up 2.9%

Shares of FOLD stock traded up $0.24 on Monday, reaching $8.57. 4,284,875 shares of the stock were exchanged, compared to its average volume of 4,497,552. Amicus Therapeutics has a one year low of $5.51 and a one year high of $12.65. The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92. The stock has a 50 day moving average price of $7.13 and a 200 day moving average price of $6.95.

Amicus Therapeutics Company Profile

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.