Osterweis Capital Management Inc. Buys Shares of 824,740 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. bought a new position in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 824,740 shares of the biopharmaceutical company's stock, valued at approximately $6,730,000. Osterweis Capital Management Inc. owned 0.27% of Amicus Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in FOLD. Virtus Fund Advisers LLC acquired a new stake in shares of Amicus Therapeutics in the 4th quarter worth $29,000. PNC Financial Services Group Inc. lifted its stake in shares of Amicus Therapeutics by 211.4% in the 1st 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 period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Amicus Therapeutics in the 1st quarter worth $53,000. GF Fund Management CO. LTD. acquired a new stake in shares of Amicus Therapeutics in the 4th quarter worth $59,000. Finally, GAMMA Investing LLC increased its holdings in shares of Amicus Therapeutics by 1,610.8% in the 1st quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company's stock valued at $61,000 after purchasing an additional 7,007 shares in the last quarter.

Amicus Therapeutics Price Performance

NASDAQ:FOLD traded up $0.01 during mid-day trading on Friday, hitting $7.61. 3,924,062 shares of the company's stock traded hands, compared to its average volume of 4,473,011. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.29 and a current ratio of 3.21. The firm's 50 day simple moving average is $6.35 and its 200 day simple moving average is $7.18. Amicus Therapeutics, Inc. has a 1 year low of $5.51 and a 1 year high of $12.65. The company has a market cap of $2.35 billion, a PE ratio of -63.41 and a beta of 0.53.

Analyst Upgrades and Downgrades

FOLD has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Amicus Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 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. Finally, UBS Group raised their price objective on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Amicus Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.22.

Amicus Therapeutics 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.