Amicus Therapeutics (NASDAQ:FOLD) Trading 6% Higher – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s share price rose 6% during trading on Friday . The stock traded as high as $6.33 and last traded at $6.31. Approximately 3,177,164 shares traded hands during trading, an increase of 14% from the average daily volume of 2,789,210 shares. The stock had previously closed at $5.95.

Analyst Ratings Changes

FOLD has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. UBS Group lifted their price objective on Amicus Therapeutics from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 2nd. StockNews.com lowered Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. The Goldman Sachs Group lowered their target price on Amicus Therapeutics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.22.

Amicus Therapeutics Price Performance

The company has a current ratio of 3.39, a quick ratio of 2.42 and a debt-to-equity ratio of 2.01. The company has a 50 day simple moving average of $7.37 and a 200 day simple moving average of $8.90. The stock has a market cap of $1.98 billion, a P/E ratio of -35.72, a PEG ratio of 1.51 and a beta of 0.64.

Institutional Trading of Amicus Therapeutics

Institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC acquired a new stake in Amicus Therapeutics in the 4th quarter valued at $123,000. Avanza Fonder AB acquired a new stake in shares of Amicus Therapeutics in the fourth quarter valued at about $157,000. KBC Group NV increased its position in shares of Amicus Therapeutics by 44.4% in the fourth quarter. KBC Group NV now owns 10,154 shares of the biopharmaceutical company’s stock valued at $96,000 after acquiring an additional 3,120 shares during the last quarter. R Squared Ltd bought a new stake in Amicus Therapeutics during the fourth quarter worth about $79,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in Amicus Therapeutics by 11.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 63,358 shares of the biopharmaceutical company’s stock valued at $597,000 after purchasing an additional 6,314 shares during the last quarter.

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.