Algert Global LLC Acquires 394,943 Shares of Amicus Therapeutics, Inc. $FOLD

Key Points

• Algert Global LLC increased its stake in Amicus Therapeutics by 92.9%, now owning approximately 820,026 shares worth $6.69 million as reported in their recent SEC filing.
• Various institutional investors, including Aberdeen Group and Sei Investments, also boosted their holdings, reflecting growing confidence in the company's prospects.
• Research analysts have mixed views on the stock, with UBS raising its price target to $22 and Goldman Sachs lowering it to $9, while overall, Amicus received a consensus rating of "Moderate Buy."

Algert Global LLC grew its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 92.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 820,026 shares of the biopharmaceutical company's stock after purchasing an additional 394,943 shares during the period. Algert Global LLC owned about 0.27% of Amicus Therapeutics worth $6,691,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its holdings 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 valued at $289,000 after purchasing an additional 1,280 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Amicus Therapeutics by 2.2% in the 1st quarter. Diversified Trust Co now owns 83,542 shares of the biopharmaceutical company's stock valued at $682,000 after purchasing an additional 1,784 shares in the last quarter. Tempus Wealth Planning LLC boosted its holdings in shares of Amicus Therapeutics by 7.2% in the 1st 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 boosted its holdings in shares of Amicus Therapeutics by 27.4% in the 1st 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 in the last quarter. Finally, Virtus Fund Advisers LLC acquired a new stake in shares of Amicus Therapeutics in the 4th quarter valued at $29,000.

Amicus Therapeutics Trading Up 0.1%

NASDAQ:FOLD traded up $0.01 during trading hours on Friday, hitting $7.61. 3,924,062 shares of the company were exchanged, compared to its average volume of 4,473,011. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -63.41 and a beta of 0.53. The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92. Amicus Therapeutics, Inc. has a one year low of $5.51 and a one year high of $12.65. The company has a fifty day simple moving average of $6.35 and a 200 day simple moving average of $7.20.

Analyst Ratings Changes

FOLD has been the topic of several recent research reports. Morgan Stanley raised Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a report on Thursday, July 17th. UBS Group raised their price objective on Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a report on Friday, May 2nd. The Goldman Sachs Group cut their price objective on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen raised Amicus Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Eight investment 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.22.

Amicus Therapeutics Company 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.