Amicus Therapeutics (NASDAQ:FOLD) Upgraded by Morgan Stanley to Overweight Rating

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) was upgraded by investment analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report released on Thursday, MarketBeat reports.

A number of other brokerages have also weighed in on FOLD. 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 report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on shares of Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.22.

Amicus Therapeutics Stock Performance

Shares of FOLD traded down $0.33 during mid-day trading on Thursday, hitting $5.96. 5,161,708 shares of the company's stock were exchanged, compared to its average volume of 3,246,748. Amicus Therapeutics has a fifty-two week low of $5.51 and a fifty-two week high of $12.65. The firm has a market capitalization of $1.84 billion, a P/E ratio of -66.21 and a beta of 0.51. The business's 50 day moving average is $6.07 and its two-hundred day moving average is $7.67. The company has a current ratio of 3.34, a quick ratio of 2.47 and a debt-to-equity ratio of 2.02.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its position in Amicus Therapeutics by 53.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,530 shares of the biopharmaceutical company's stock worth $195,000 after purchasing an additional 8,567 shares during the period. Rice Hall James & Associates LLC lifted its position in Amicus Therapeutics by 46.6% during the first quarter. Rice Hall James & Associates LLC now owns 2,010,104 shares of the biopharmaceutical company's stock worth $16,402,000 after purchasing an additional 639,024 shares during the period. Intech Investment Management LLC lifted its position in Amicus Therapeutics by 59.7% during the fourth quarter. Intech Investment Management LLC now owns 124,704 shares of the biopharmaceutical company's stock worth $1,175,000 after purchasing an additional 46,633 shares during the period. Norges Bank bought a new stake in Amicus Therapeutics during the fourth quarter worth about $29,033,000. Finally, Renaissance Technologies LLC lifted its position in Amicus Therapeutics by 174.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,108,616 shares of the biopharmaceutical company's stock worth $19,863,000 after purchasing an additional 1,339,316 shares during the period.

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.