Charles Schwab Investment Management Inc. Sells 95,723 Shares of Amicus Therapeutics, Inc. $FOLD

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Amicus Therapeutics by 3.7%, selling 95,723 shares and holding approximately 0.81% of the company worth $20.3 million.
• Several institutional investors made significant changes in their positions during the fourth quarter, including Envestnet Asset Management, which increased its holdings by 1.7%.
• UBS Group raised its price target for Amicus Therapeutics from $21.00 to $22.00 and rated it as a "buy," while Goldman Sachs reduced its target from $12.00 to $9.00.

Charles Schwab Investment Management Inc. trimmed its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,491,080 shares of the biopharmaceutical company's stock after selling 95,723 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.81% of Amicus Therapeutics worth $20,327,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Amicus Therapeutics by 53.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,530 shares of the biopharmaceutical company's stock worth $195,000 after purchasing an additional 8,567 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Amicus Therapeutics in the first quarter valued at approximately $1,533,000. Rice Hall James & Associates LLC lifted its holdings in Amicus Therapeutics by 46.6% in the first quarter. Rice Hall James & Associates LLC now owns 2,010,104 shares of the biopharmaceutical company's stock valued at $16,402,000 after buying an additional 639,024 shares during the period. Victory Capital Management Inc. lifted its holdings in Amicus Therapeutics by 47.4% in the first quarter. Victory Capital Management Inc. now owns 257,088 shares of the biopharmaceutical company's stock valued at $2,098,000 after buying an additional 82,691 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Amicus Therapeutics in the first quarter valued at approximately $477,000.

Amicus Therapeutics Trading Up 1.6%

FOLD traded up $0.12 during mid-day trading on Wednesday, hitting $7.64. The stock had a trading volume of 2,000,045 shares, compared to its average volume of 4,395,746. The stock's fifty day simple moving average is $6.45 and its 200-day simple moving average is $7.15. The company has a debt-to-equity ratio of 1.92, a current ratio of 3.21 and a quick ratio of 2.29. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -63.66 and a beta of 0.53. Amicus Therapeutics, Inc. has a 1-year low of $5.51 and a 1-year high of $12.65.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FOLD. Wall Street Zen upgraded shares of Amicus Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. UBS Group increased their price objective on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Morgan Stanley upgraded shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group cut their price objective on shares of Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Amicus Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus 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.