Morgan Stanley slashes price target on Amicus Therapeutics Inc [FOLD] – find out why.

Amicus Therapeutics Inc [NASDAQ: FOLD] traded at a low on Wednesday, posting a -0.09 loss after which it closed the day’ session at $10.55.

The results of the trading session contributed to over 2441659 shares changing hands. Over the past one week, the price volatility of Amicus Therapeutics Inc stands at 2.63% while the volatility over the past one month is 3.06%.

The market cap for FOLD stock reached $3.12 billion, with 293.59 million shares outstanding and 286.56 million shares in the current float. Compared to the average trading volume of 3.03M shares, FOLD reached a trading volume of 2441659 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Amicus Therapeutics Inc [FOLD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FOLD shares is $18.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FOLD stock is a recommendation set at 1.55. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Amicus Therapeutics Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 19, 2023. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on September 09, 2022, representing the official price target for Amicus Therapeutics Inc stock. Previously, the target price had yet another raise to $11, while Goldman analysts kept a Neutral rating on FOLD stock. On January 14, 2022, analysts increased their price target for FOLD shares from 12 to 16.

The Average True Range (ATR) for Amicus Therapeutics Inc is set at 0.39, with the Price to Sales ratio for FOLD stock in the period of the last 12 months amounting to 7.80. The Price to Book ratio for the last quarter was 19.34, with the Price to Cash per share for the same quarter was set at 0.97.

How has FOLD stock performed recently?

Amicus Therapeutics Inc [FOLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.39. With this latest performance, FOLD shares dropped by -8.89% in over the last four-week period, additionally sinking by -0.09% over the last 6 months – not to mention a drop of -11.12% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FOLD stock in for the last two-week period is set at 29.98, with the RSI for the last a single of trading hit 24.49, and the three-weeks RSI is set at 34.24 for Amicus Therapeutics Inc [FOLD]. The present Moving Average for the last 50 days of trading for this stock 12.30, while it was recorded at 10.73 for the last single week of trading, and 12.27 for the last 200 days.

Amicus Therapeutics Inc [FOLD]: Deeper insight into the fundamentals

Amicus Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.52 and a Current Ratio set at 2.88.

Insider trade positions for Amicus Therapeutics Inc [FOLD]

The top three institutional holders of FOLD stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in FOLD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in FOLD stock with ownership which is approximately 5.8386%.

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