Amicus Therapeutics (NASDAQ:FOLD) Rating Increased to Overweight at Morgan Stanley

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

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group reduced their price objective 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. Wall Street Zen cut shares of Amicus Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, UBS Group raised their price objective on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.22.

Amicus Therapeutics Stock Up 1.5%

Shares of Amicus Therapeutics stock opened at $6.05 on Thursday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -67.21 and a beta of 0.51. The company's 50 day moving average is $6.07 and its 200 day moving average is $7.64. Amicus Therapeutics has a twelve month low of $5.51 and a twelve month high of $12.65. The company has a quick ratio of 2.47, a current ratio of 3.34 and a debt-to-equity ratio of 2.02.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FOLD. Virtus Fund Advisers LLC bought a new stake in Amicus Therapeutics during the fourth quarter valued at about $29,000. Strs Ohio purchased a new position in shares of Amicus Therapeutics during the first quarter valued at about $30,000. Covestor Ltd grew its position in shares of Amicus Therapeutics by 114.9% during the fourth quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company's stock valued at $41,000 after purchasing an additional 2,312 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Amicus Therapeutics by 211.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company's stock worth $42,000 after acquiring an additional 3,497 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Amicus Therapeutics in the first quarter worth about $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.