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

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $10.15, but opened at $9.85. Amicus Therapeutics shares last traded at $9.59, with a volume of 205,998 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective on the stock. Guggenheim raised their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Bank of America upped their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley reissued an “equal weight” rating and issued a $12.00 price target (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.88.

Amicus Therapeutics Stock Down 7.8 %

The stock has a fifty day moving average of $10.52 and a 200 day moving average of $10.61. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The firm has a market capitalization of $2.80 billion, a P/E ratio of -27.53 and a beta of 0.60.

Insider Buying and Selling

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,901 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total value of $98,762.50. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $11,083,175. This trade represents a 0.88 % 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 90 days, insiders sold 30,401 shares of company stock worth $339,363. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors have recently added to or reduced their stakes in FOLD. OLD Second National Bank of Aurora purchased a new stake in shares of Amicus Therapeutics during the 3rd quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. lifted its position in shares of Amicus Therapeutics by 156.9% during the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,569 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Amicus Therapeutics by 1,705.4% in the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 2,831 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Amicus Therapeutics in the third quarter valued at $32,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Amicus Therapeutics in the third quarter valued at $55,000.

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.