Aberdeen Group plc Acquires 205,834 Shares of Amicus Therapeutics, Inc. $FOLD

Key Points

• Aberdeen Group plc increased its holdings in Amicus Therapeutics by 14.9%, acquiring an additional 205,834 shares, bringing their total ownership to approximately 1.59 million shares valued at around $12.9 million.
• Amicus Therapeutics stock has been rated with an average target price of $16.22, with analysts issuing nine buy ratings and only two hold ratings.
• Recent upgrades from brokerages include Morgan Stanley moving to an overweight rating and UBS Group increasing their price target from $21.00 to $22.00, indicating positive sentiment towards the company.

Aberdeen Group plc boosted its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 14.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,586,609 shares of the biopharmaceutical company's stock after purchasing an additional 205,834 shares during the period. Aberdeen Group plc owned about 0.52% of Amicus Therapeutics worth $12,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FOLD. Virtus Fund Advisers LLC bought a new position in shares of Amicus Therapeutics in the 4th quarter valued at $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 valued at $42,000 after acquiring an additional 3,497 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Amicus Therapeutics in the 4th quarter valued at $59,000. GAMMA Investing LLC lifted its stake 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 acquiring an additional 7,007 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Amicus Therapeutics in the 4th quarter valued at $113,000.

Amicus Therapeutics Stock Up 0.1%

Shares of NASDAQ:FOLD opened at $7.41 on Tuesday. The firm has a market cap of $2.28 billion, a P/E ratio of -61.74 and a beta of 0.53. The company has a quick ratio of 2.29, a current ratio of 3.21 and a debt-to-equity ratio of 1.92. Amicus Therapeutics, Inc. has a 12-month low of $5.51 and a 12-month high of $12.65. The business has a fifty day simple moving average of $6.24 and a 200 day simple moving average of $7.22.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FOLD. Morgan Stanley upgraded Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group dropped their price target on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. UBS Group increased their price target on Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen raised Amicus Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Amicus Therapeutics presently has an average rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.