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. cut its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,491,080 shares of the biopharmaceutical company's stock after selling 95,723 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.81% of Amicus Therapeutics worth $20,327,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FOLD. Envestnet Asset Management Inc. increased its holdings in Amicus Therapeutics by 1.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 425,419 shares of the biopharmaceutical company's stock worth $4,007,000 after acquiring an additional 7,204 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Amicus Therapeutics by 539.1% during the fourth quarter. Russell Investments Group Ltd. now owns 53,282 shares of the biopharmaceutical company's stock worth $502,000 after purchasing an additional 44,945 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Amicus Therapeutics in the fourth quarter worth about $132,000. Marshall Wace LLP increased its stake in shares of Amicus Therapeutics by 254.2% in the fourth quarter. Marshall Wace LLP now owns 72,968 shares of the biopharmaceutical company's stock worth $687,000 after purchasing an additional 52,368 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Amicus Therapeutics by 7.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 80,076 shares of the biopharmaceutical company's stock valued at $753,000 after purchasing an additional 5,522 shares during the period.

Amicus Therapeutics Stock Performance

Shares of FOLD opened at $7.60 on Friday. 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 company has a market cap of $2.34 billion, a PE ratio of -63.33 and a beta of 0.53. The stock has a 50-day moving average price of $6.32 and a 200-day moving average price of $7.21.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group raised their price objective on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley upgraded Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group reduced their price target on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating for the company in a research 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 given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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