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

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 equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

FOLD has been the subject of a number of other research reports. 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 report on Friday, May 2nd. UBS Group upped their price target on Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a research note 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, July 17th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.22.

Amicus Therapeutics Trading Down 0.8%

FOLD stock traded down $0.06 during midday trading on Friday, hitting $6.94. The company had a trading volume of 1,795,136 shares, compared to its average volume of 3,862,431. The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92. Amicus Therapeutics has a 52 week low of $5.51 and a 52 week high of $12.65. The stock's 50 day moving average price is $6.08 and its 200 day moving average price is $7.40. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -57.79 and a beta of 0.53.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Virtus Fund Advisers LLC bought a new position in Amicus Therapeutics in the fourth quarter valued at about $29,000. Strs Ohio bought a new position in Amicus Therapeutics in the first quarter valued at about $30,000. Covestor Ltd lifted its holdings in Amicus Therapeutics by 114.9% in the fourth quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company's stock valued at $41,000 after acquiring an additional 2,312 shares during the period. PNC Financial Services Group Inc. lifted its holdings 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 valued at $42,000 after acquiring an additional 3,497 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in Amicus Therapeutics in the fourth quarter valued at about $59,000.

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.