Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $9.02, but opened at $9.44. Amicus Therapeutics shares last traded at $9.00, with a volume of 129,401 shares.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FOLD shares. Bank of America upped their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Cantor Fitzgerald raised their price objective on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. StockNews.com downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised their price target on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Monday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Amicus Therapeutics has an average rating of “Moderate Buy” and an average price target of $16.88.

Amicus Therapeutics Stock Performance

The firm has a market cap of $2.65 billion, a PE ratio of -26.09 and a beta of 0.62. The business has a 50 day simple moving average of $9.90 and a two-hundred day simple moving average of $10.55. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Friday, November 1st. The stock was sold at an average price of $11.46, for a total value of $85,950.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,161,054.84. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 22,901 shares of company stock worth $259,863. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in shares of Amicus Therapeutics by 4.7% during the second quarter. Rhumbline Advisers now owns 434,612 shares of the biopharmaceutical company’s stock worth $4,311,000 after acquiring an additional 19,491 shares during the last quarter. Arizona State Retirement System grew its position in Amicus Therapeutics by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock worth $615,000 after purchasing an additional 1,577 shares during the last quarter. Headlands Technologies LLC acquired a new position in Amicus Therapeutics during the 2nd quarter valued at approximately $89,000. Envestnet Asset Management Inc. raised its stake in Amicus Therapeutics by 3.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 450,823 shares of the biopharmaceutical company’s stock worth $4,472,000 after acquiring an additional 16,263 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Amicus Therapeutics by 14.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,020,536 shares of the biopharmaceutical company’s stock valued at $29,964,000 after acquiring an additional 378,999 shares during the last quarter.

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.