Amicus Therapeutics (NASDAQ:FOLD) Sets New 1-Year Low - Time to Sell?

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.78 and last traded at $5.80, with a volume of 5762476 shares. The stock had previously closed at $6.05.

Analyst Ratings Changes

Several research firms recently issued reports on FOLD. Wells Fargo & Company lowered their price objective on Amicus Therapeutics from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. UBS Group increased their price objective on Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their price objective on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen cut shares of Amicus Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.22.

Amicus Therapeutics Stock Down 1.5%

The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.47 and a current ratio of 3.34. The company has a fifty day moving average price of $6.40 and a 200-day moving average price of $8.21. The firm has a market capitalization of $1.74 billion, a PE ratio of -62.72 and a beta of 0.54.

Hedge Funds Weigh In On Amicus Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtus Fund Advisers LLC acquired a new position in Amicus Therapeutics during the 4th quarter valued at about $29,000. Strs Ohio acquired a new position in shares of Amicus Therapeutics in the 1st quarter valued at $30,000. Covestor Ltd raised its position in shares of Amicus Therapeutics by 114.9% in the fourth quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company's stock worth $41,000 after acquiring an additional 2,312 shares during the period. PNC Financial Services Group Inc. boosted its position in Amicus Therapeutics by 211.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 3,497 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Amicus Therapeutics during the 1st quarter valued at approximately $53,000.

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.