Wells Fargo & Company Cuts Amicus Therapeutics (NASDAQ:FOLD) Price Target to $17.00

Amicus Therapeutics (NASDAQ:FOLD) had its price target reduced by Wells Fargo & Company from $18.00 to $17.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday. Morgan Stanley reiterated an “equal weight” rating and issued a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Cantor Fitzgerald restated an “overweight” rating and set a $21.00 target price on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. JPMorgan Chase & Co. increased their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Guggenheim raised their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.75.

Amicus Therapeutics Trading Down 5.1 %

Shares of NASDAQ:FOLD opened at $9.07 on Thursday. Amicus Therapeutics has a 52 week low of $8.78 and a 52 week high of $14.02. The company’s 50 day moving average is $9.56 and its two-hundred day moving average is $10.41. The company has a market cap of $2.71 billion, a PE ratio of -26.68, a P/E/G ratio of 1.65 and a beta of 0.61. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.02, for a total value of $75,150.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $8,884,273.08. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Amicus Therapeutics

Several institutional investors and hedge funds 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 worth $26,000. Hazlett Burt & Watson Inc. boosted its stake 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 buying an additional 1,569 shares during the period. Virtus Fund Advisers LLC acquired a new stake in shares of Amicus Therapeutics during the fourth quarter worth about $29,000. Blue Trust Inc. grew its holdings in shares of Amicus Therapeutics by 1,705.4% during the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 2,831 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new position in Amicus Therapeutics in the 3rd quarter valued at about $32,000.

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.