Wall Street Zen Downgrades Amicus Therapeutics (NASDAQ:FOLD) to Hold

Key Points

• Amicus Therapeutics has been downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen.
• The price target for Amicus Therapeutics was reduced by Goldman Sachs from $12.00 to $9.00, while UBS Group raised it from $21.00 to $22.00.
• Institutional investors have significantly increased their holdings in Amicus Therapeutics, with EverSource Wealth Advisors raising their stake by 472.6% during the second quarter.

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Several other analysts also recently weighed in on the stock. UBS Group lifted their price target on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating 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, The Goldman Sachs Group decreased their target price on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.22.

Amicus Therapeutics Trading Up 2.2%

FOLD traded up $0.17 on Friday, reaching $8.02. 5,529,094 shares of the company traded hands, compared to its average volume of 3,639,569. The company has a market cap of $2.47 billion, a P/E ratio of -66.83 and a beta of 0.55. The company has a quick ratio of 2.29, a current ratio of 3.21 and a debt-to-equity ratio of 1.92. Amicus Therapeutics has a one year low of $5.51 and a one year high of $12.65. The firm has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $7.07.

Institutional Trading of Amicus Therapeutics

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. boosted its position in Amicus Therapeutics by 450.1% during the 2nd quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 3,358 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Amicus Therapeutics by 472.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 3,677 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in shares of Amicus Therapeutics during the fourth quarter worth $29,000. Strs Ohio purchased a new stake in shares of Amicus Therapeutics during the 1st quarter valued at $30,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Amicus Therapeutics by 211.4% in the 1st 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.

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.