Amicus Therapeutics, Inc. (NASDAQ:FOLD) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Amicus Therapeutics, Inc. has received a consensus rating of "Moderate Buy" from ten brokerage firms, with eight recommending buy and two recommending hold.
• The average 12-month target price for the company is $16.22, despite some analysts adjusting their price targets variably in recent evaluations.
• Institutional investors have shown significant interest, with several firms, including Virtus Fund Advisers LLC and Covestor Ltd, purchasing new stakes or increasing their holdings in the company in recent months.

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $16.2222.

A number of research firms recently commented on FOLD. Wall Street Zen upgraded Amicus Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday. The Goldman Sachs Group decreased their price target on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley upgraded Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a report on Thursday, July 17th. Finally, UBS Group raised their price objective on Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd.

Amicus Therapeutics Trading Down 0.8%

NASDAQ:FOLD traded down $0.06 on Friday, hitting $6.94. The stock had a trading volume of 1,717,829 shares, compared to its average volume of 3,861,829. The company has a fifty day moving average price of $6.08 and a two-hundred day moving average price of $7.40. Amicus Therapeutics has a 1-year low of $5.51 and a 1-year high of $12.65. The company has a quick ratio of 2.29, a current ratio of 3.21 and a debt-to-equity ratio of 1.92. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -57.79 and a beta of 0.53.

Institutional Trading of Amicus Therapeutics

Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can purchased a new stake in Amicus Therapeutics during the 2nd quarter worth approximately $144,000. Peregrine Capital Management LLC grew its stake in Amicus Therapeutics by 11.2% during the 2nd quarter. Peregrine Capital Management LLC now owns 1,012,100 shares of the biopharmaceutical company's stock worth $5,799,000 after purchasing an additional 101,592 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Amicus Therapeutics by 7.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 64,607 shares of the biopharmaceutical company's stock worth $370,000 after purchasing an additional 4,303 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Amicus Therapeutics by 4,500.2% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 986,779 shares of the biopharmaceutical company's stock worth $5,654,000 after purchasing an additional 965,328 shares during the period. Finally, AlphaQuest LLC raised its position in Amicus Therapeutics by 117.0% in the 2nd quarter. AlphaQuest LLC now owns 81,176 shares of the biopharmaceutical company's stock valued at $465,000 after purchasing an additional 43,765 shares in 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.