Aberdeen Group plc Grows Stock Position in 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 stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 14.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

A number of other large investors have also bought and sold shares of the stock. Summit Investment Advisors Inc. grew its position in shares of Amicus Therapeutics by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 30,696 shares of the biopharmaceutical company's stock worth $289,000 after buying an additional 1,280 shares during the last quarter. Diversified Trust Co grew its holdings in Amicus Therapeutics by 2.2% in the first quarter. Diversified Trust Co now owns 83,542 shares of the biopharmaceutical company's stock worth $682,000 after purchasing an additional 1,784 shares during the period. Tempus Wealth Planning LLC increased its stake in shares of Amicus Therapeutics by 7.2% during the first quarter. Tempus Wealth Planning LLC now owns 29,513 shares of the biopharmaceutical company's stock valued at $241,000 after purchasing an additional 1,990 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of Amicus Therapeutics by 27.4% during the first quarter. Stephens Inc. AR now owns 13,655 shares of the biopharmaceutical company's stock valued at $111,000 after purchasing an additional 2,938 shares during the last quarter. Finally, Virtus Fund Advisers LLC bought a new stake in shares of Amicus Therapeutics in the 4th quarter worth approximately $29,000.

Amicus Therapeutics Stock Performance

FOLD stock traded up $0.01 on Friday, hitting $7.61. The company had a trading volume of 3,924,062 shares, compared to its average volume of 4,493,957. Amicus Therapeutics, Inc. has a 12-month low of $5.51 and a 12-month high of $12.65. The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92. The stock's 50-day simple moving average is $6.35 and its 200 day simple moving average is $7.16. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -63.41 and a beta of 0.53.

Wall Street Analysts Forecast Growth

FOLD has been the subject of a number of analyst reports. UBS Group raised their price objective on Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a research report 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 Amicus Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, The Goldman Sachs Group decreased 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. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Amicus Therapeutics presently has an average rating of "Moderate Buy" and an average price target 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.