Amicus Therapeutics (NASDAQ:FOLD) Upgraded to Buy at Wall Street Zen

Key Points

• Amicus Therapeutics was upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting increased confidence in the company's prospects.
• While UBS raised the price target for Amicus from $21.00 to $22.00, Goldman Sachs reduced theirs from $12.00 to $9.00, indicating mixed analyst views on the stock.
• The stock has a 52-week range between $5.51 and $12.65, with a current market cap of $1.95 billion and a consensus rating of "Moderate Buy."

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

Other equities research analysts have also recently issued reports about the company. 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 research report on Friday, May 2nd. UBS Group lifted their price objective on Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Morgan Stanley upgraded Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.22.

Amicus Therapeutics Price Performance

NASDAQ:FOLD opened at $6.32 on Friday. Amicus Therapeutics has a 52 week low of $5.51 and a 52 week 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. The stock has a market capitalization of $1.95 billion, a PE ratio of -52.66 and a beta of 0.53. The stock's 50-day moving average price is $6.05 and its 200-day moving average price is $7.45.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Virtus Fund Advisers LLC purchased a new position in Amicus Therapeutics in the 4th quarter worth approximately $29,000. Strs Ohio purchased a new position in Amicus Therapeutics in the 1st quarter worth approximately $30,000. Covestor Ltd lifted its stake in Amicus Therapeutics by 114.9% in the 4th quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 2,312 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Amicus Therapeutics by 211.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 3,497 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Amicus Therapeutics during the 4th quarter valued at approximately $59,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.