Amicus Therapeutics, Inc. (NASDAQ:FOLD) Sees Large Drop in Short Interest

Amicus Therapeutics, Inc. (NASDAQ:FOLD) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 19,900,000 shares, a decrease of 9.3% from the October 15th total of 21,940,000 shares. Based on an average trading volume of 2,410,000 shares, the days-to-cover ratio is presently 8.3 days.

Amicus Therapeutics Price Performance

Shares of NASDAQ:FOLD traded down $0.02 during trading on Monday, hitting $9.66. 2,325,383 shares of the stock were exchanged, compared to its average volume of 2,726,177. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57. The company has a market cap of $2.89 billion, a PE ratio of -28.41 and a beta of 0.68. The company has a fifty day moving average price of $10.96 and a two-hundred day moving average price of $10.61. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18.

Insider Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total transaction of $79,500.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $9,398,532.40. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 30,401 shares of company stock worth $352,038. Insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

A number of institutional investors have recently bought and sold shares of FOLD. OLD Second National Bank of Aurora purchased a new position in Amicus Therapeutics during the 3rd quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its stake in Amicus Therapeutics by 156.9% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 1,569 shares in the last quarter. Blue Trust Inc. grew its holdings in Amicus Therapeutics by 1,705.4% during the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 2,831 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Amicus Therapeutics in the third quarter valued at $32,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Amicus Therapeutics in the third quarter valued at $55,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FOLD. Jefferies Financial Group began coverage on Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald upped their price objective on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Bank of America boosted their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.63.

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.