Amicus Therapeutics (NASDAQ:FOLD) Hits New 12-Month Low – What’s Next?

Amicus Therapeutics, Inc. (NASDAQ:FOLD) reached a new 52-week low on Monday . The stock traded as low as $5.61 and last traded at $5.59, with a volume of 181454 shares. The stock had previously closed at $5.64.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FOLD. Wall Street Zen cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. UBS Group raised their price target on Amicus Therapeutics from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group reduced their price objective on Amicus Therapeutics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.22.

Amicus Therapeutics Stock Up 1.3%

The firm’s 50-day moving average is $6.39 and its two-hundred day moving average is $8.16. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.47 and a current ratio of 3.34. The stock has a market cap of $1.76 billion, a P/E ratio of -63.49 and a beta of 0.54.

Institutional Investors Weigh In On Amicus Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its position in Amicus Therapeutics by 29.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 220,500 shares of the biopharmaceutical company’s stock worth $2,077,000 after purchasing an additional 50,236 shares during the period. New York State Common Retirement Fund raised its stake in shares of Amicus Therapeutics by 2.8% during the fourth quarter. New York State Common Retirement Fund now owns 943,114 shares of the biopharmaceutical company’s stock worth $8,884,000 after buying an additional 25,600 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Amicus Therapeutics by 245.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 120,958 shares of the biopharmaceutical company’s stock valued at $1,139,000 after buying an additional 85,951 shares during the period. HealthInvest Partners AB boosted its stake in Amicus Therapeutics by 18.6% in the fourth quarter. HealthInvest Partners AB now owns 326,840 shares of the biopharmaceutical company’s stock valued at $3,076,000 after acquiring an additional 51,368 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Amicus Therapeutics in the fourth quarter valued at approximately $132,000.

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.