Amicus Therapeutics (NASDAQ:FOLD) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.89 and traded as high as $8.43. Amicus Therapeutics shares last traded at $8.16, with a volume of 4,235,173 shares.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FOLD shares. Wall Street Zen upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Amicus Therapeutics in a report on Saturday, September 27th. Morgan Stanley upgraded shares of Amicus Therapeutics from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 17th. Finally, Needham & Company LLC raised shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Thursday, September 18th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.78.

Amicus Therapeutics Trading Down 0.5%

The business’s 50-day moving average price is $7.58 and its 200-day moving average price is $6.89. The firm has a market capitalization of $2.52 billion, a PE ratio of -67.99 and a beta of 0.56. The company has a debt-to-equity ratio of 1.92, a current ratio of 3.21 and a quick ratio of 2.29.

Institutional Trading of Amicus Therapeutics

A number of hedge funds have recently added to or reduced their stakes in FOLD. GAMMA Investing LLC lifted its stake in shares of Amicus Therapeutics by 1,610.8% in the 1st quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 7,007 shares during the period. Rhumbline Advisers raised its holdings in Amicus Therapeutics by 6.9% during the first quarter. Rhumbline Advisers now owns 440,351 shares of the biopharmaceutical company’s stock worth $3,593,000 after purchasing an additional 28,383 shares in the last quarter. Procyon Advisors LLC lifted its position in Amicus Therapeutics by 74.5% in the first quarter. Procyon Advisors LLC now owns 42,576 shares of the biopharmaceutical company’s stock valued at $347,000 after purchasing an additional 18,184 shares during the period. SG Americas Securities LLC boosted its holdings in Amicus Therapeutics by 137.6% in the 1st quarter. SG Americas Securities LLC now owns 100,993 shares of the biopharmaceutical company’s stock valued at $824,000 after purchasing an additional 58,496 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Amicus Therapeutics by 2.2% in the 1st quarter. Diversified Trust Co now owns 83,542 shares of the biopharmaceutical company’s stock valued at $682,000 after purchasing an additional 1,784 shares in 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.