Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up - Here's Why

Amicus Therapeutics, Inc. (NASDAQ:FOLD - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $6.07, but opened at $6.55. Amicus Therapeutics shares last traded at $6.39, with a volume of 1,709,065 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FOLD. Wall Street Zen downgraded Amicus Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, May 5th. The Goldman Sachs Group dropped their target price on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. UBS Group lifted their target price on Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley raised Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.22.

Amicus Therapeutics Trading Down 5.2%

The stock has a 50 day moving average of $6.07 and a 200 day moving average of $7.64. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.34 and a quick ratio of 2.47. The firm has a market cap of $1.84 billion, a P/E ratio of -66.21 and a beta of 0.51.

Institutional Trading of Amicus Therapeutics

Institutional investors have recently made changes to their positions in the business. Tempus Wealth Planning LLC lifted its stake in shares of Amicus Therapeutics by 80.0% in the second quarter. Tempus Wealth Planning LLC now owns 53,132 shares of the biopharmaceutical company's stock worth $304,000 after buying an additional 23,619 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Amicus Therapeutics by 641.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,533,854 shares of the biopharmaceutical company's stock worth $20,249,000 after buying an additional 3,057,072 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Amicus Therapeutics in the 1st quarter valued at $6,730,000. Rhumbline Advisers increased its stake in Amicus Therapeutics by 6.9% in the 1st quarter. Rhumbline Advisers now owns 440,351 shares of the biopharmaceutical company's stock valued at $3,593,000 after buying an additional 28,383 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Amicus Therapeutics during the 1st quarter worth $30,000.

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.