Assenagon Asset Management S.A. Boosts Position in Amicus Therapeutics, Inc. $FOLD

Key Points

• Assenagon Asset Management S.A. has increased its position in Amicus Therapeutics by 641.2%, owning over 3.5 million shares worth about $20.2 million at the end of the second quarter.
• Several other institutional investors also boosted their stakes in Amicus Therapeutics, with notable increases from Wellington Management and Millennium Management.
• Amicus Therapeutics has recently received upgraded ratings from multiple analysts, with an average rating of “Moderate Buy” and a consensus price target of $15.78.

Assenagon Asset Management S.A. increased its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 641.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,533,854 shares of the biopharmaceutical company's stock after purchasing an additional 3,057,072 shares during the period. Assenagon Asset Management S.A. owned 1.15% of Amicus Therapeutics worth $20,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of Amicus Therapeutics by 2.6% during the first quarter. Wellington Management Group LLP now owns 29,200,617 shares of the biopharmaceutical company's stock worth $238,277,000 after purchasing an additional 738,623 shares during the last quarter. Redmile Group LLC increased its position in shares of Amicus Therapeutics by 35.1% in the first quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company's stock valued at $77,795,000 after buying an additional 2,478,779 shares in the last quarter. Vestal Point Capital LP increased its stake in shares of Amicus Therapeutics by 27.6% during the 1st quarter. Vestal Point Capital LP now owns 4,275,000 shares of the biopharmaceutical company's stock worth $34,884,000 after purchasing an additional 925,000 shares in the last quarter. Nuveen LLC purchased a new position in Amicus Therapeutics during the first quarter worth $28,741,000. Finally, Millennium Management LLC grew its holdings in shares of Amicus Therapeutics by 635.1% during the first quarter. Millennium Management LLC now owns 3,359,389 shares of the biopharmaceutical company's stock worth $27,413,000 after buying an additional 2,902,375 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FOLD shares. Wall Street Zen upgraded shares of Amicus Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday. Needham & Company LLC raised Amicus Therapeutics from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a report on Thursday, September 18th. Finally, Morgan Stanley upgraded shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday, July 17th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $15.78.

Amicus Therapeutics Price Performance

NASDAQ:FOLD opened at $8.57 on Tuesday. Amicus Therapeutics, Inc. has a one year low of $5.51 and a one year high of $12.65. The company has a market cap of $2.64 billion, a P/E ratio of -71.41 and a beta of 0.55. The firm's fifty day moving average price is $7.18 and its two-hundred day moving average price is $6.95. The company has a debt-to-equity ratio of 1.92, a current ratio of 3.21 and a quick ratio of 2.29.

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.

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