Osterweis Capital Management Inc. Makes New Investment in Amicus Therapeutics, Inc. $FOLD

Key Points

• Osterweis Capital Management Inc. has acquired 824,740 shares of Amicus Therapeutics, Inc. for about $6.73 million, representing approximately 0.27% ownership in the company.
• Several institutional investors have adjusted their stakes in Amicus Therapeutics recently, indicating growing interest, with notable increases from PNC Financial Services Group and GAMMA Investing LLC.
• Despite recent upgrades in ratings from analysts, Amicus Therapeutics stock has seen a slight decline of 0.9%, currently trading at $7.34.

Osterweis Capital Management Inc. purchased a new stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 824,740 shares of the biopharmaceutical company's stock, valued at approximately $6,730,000. Osterweis Capital Management Inc. owned about 0.27% of Amicus Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new position in Amicus Therapeutics during the fourth quarter valued at approximately $29,000. PNC Financial Services Group Inc. grew its stake in shares of Amicus Therapeutics by 211.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company's stock worth $42,000 after acquiring an additional 3,497 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Amicus Therapeutics in the fourth quarter worth $59,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Amicus Therapeutics in the first quarter worth $53,000. Finally, GAMMA Investing LLC grew its stake in shares of Amicus Therapeutics by 1,610.8% in the first quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company's stock worth $61,000 after acquiring an additional 7,007 shares during the last quarter.

Amicus Therapeutics Stock Performance

FOLD traded down $0.0650 during trading on Monday, reaching $7.5450. 896,644 shares of the company's stock were exchanged, compared to its average volume of 3,862,125. Amicus Therapeutics, Inc. has a fifty-two week low of $5.51 and a fifty-two week high of $12.65. The company has a quick ratio of 2.29, a current ratio of 3.21 and a debt-to-equity ratio of 1.92. The business has a 50 day moving average price of $6.35 and a 200 day moving average price of $7.16. The company has a market capitalization of $2.33 billion, a P/E ratio of -62.87 and a beta of 0.53.

Analysts Set New Price Targets

FOLD has been the topic of several research analyst reports. UBS Group raised their price objective on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley upgraded shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of Amicus Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Amicus Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $16.22.

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.