JPMorgan Chase & Co. Issues Positive Forecast for Amicus Therapeutics (NASDAQ:FOLD) Stock Price

Amicus Therapeutics (NASDAQ:FOLD) had its price objective boosted by JPMorgan Chase & Co. from $16.00 to $17.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

FOLD has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Jefferies Financial Group began coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. Bank of America upped their price target 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. Finally, Guggenheim upped their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.63.

Amicus Therapeutics Price Performance

FOLD stock opened at $9.68 on Tuesday. The company has a 50 day simple moving average of $11.00 and a 200 day simple moving average of $10.61. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -28.47 and a beta of 0.68. Amicus Therapeutics has a 1 year low of $9.02 and a 1 year high of $14.57. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,901 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total value of $98,762.50. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $11,083,175. This represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 30,401 shares of company stock valued at $352,038. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FOLD. Assenagon Asset Management S.A. bought a new position in shares of Amicus Therapeutics in the second quarter valued at $8,386,000. M&G Plc lifted its stake in shares of Amicus Therapeutics by 12.4% in the second quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after buying an additional 82,728 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Amicus Therapeutics by 1,290.4% in the first quarter. Edgestream Partners L.P. now owns 270,164 shares of the biopharmaceutical company’s stock valued at $3,183,000 after buying an additional 250,734 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Amicus Therapeutics by 7.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 100,538 shares of the biopharmaceutical company’s stock valued at $1,183,000 after buying an additional 7,304 shares in the last quarter. Finally, Fiera Capital Corp lifted its stake in shares of Amicus Therapeutics by 1.1% in the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock valued at $52,382,000 after buying an additional 58,113 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.