Entropy Technologies LP Makes New $317,000 Investment in Amicus Therapeutics, Inc. $FOLD

Key Points

• Entropy Technologies LP has acquired 38,790 shares of Amicus Therapeutics, Inc., valued at approximately $317,000, marking a new investment during the first quarter.
• Analysts have set a consensus rating of "Moderate Buy" for Amicus Therapeutics, with an average price target of $16.22; notable changes include Goldman Sachs lowering its target from $12 to $9.
• Amicus Therapeutics' stock increased by 3.9%, trading at $7.40, with a market cap of $2.28 billion and a current ratio of 3.21, reflecting its financial stability.

Entropy Technologies LP bought a new stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 38,790 shares of the biopharmaceutical company's stock, valued at approximately $317,000.

Several other hedge funds have also made changes to their positions in FOLD. Invesco Ltd. lifted its stake in Amicus Therapeutics by 4.1% during the first quarter. Invesco Ltd. now owns 2,661,394 shares of the biopharmaceutical company's stock worth $21,717,000 after purchasing an additional 105,856 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Amicus Therapeutics by 159.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 786,234 shares of the biopharmaceutical company's stock worth $6,416,000 after purchasing an additional 483,698 shares during the period. Headlands Technologies LLC lifted its stake in Amicus Therapeutics by 61.0% during the first quarter. Headlands Technologies LLC now owns 56,030 shares of the biopharmaceutical company's stock worth $457,000 after purchasing an additional 21,218 shares during the period. Deutsche Bank AG lifted its stake in Amicus Therapeutics by 26.4% during the first quarter. Deutsche Bank AG now owns 1,038,990 shares of the biopharmaceutical company's stock worth $8,478,000 after purchasing an additional 216,882 shares during the period. Finally, Legacy Capital Group California Inc. lifted its stake in Amicus Therapeutics by 16.2% during the first quarter. Legacy Capital Group California Inc. now owns 26,993 shares of the biopharmaceutical company's stock worth $220,000 after purchasing an additional 3,764 shares during the period.

Wall Street Analyst Weigh In

FOLD has been the subject of a number of analyst reports. 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 shares of Amicus Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. UBS Group lifted their target price on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group cut their target price on shares of 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Amicus Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $16.22.

Amicus Therapeutics Trading Down 0.9%

FOLD traded down $0.0650 during trading on Tuesday, reaching $7.3450. 442,221 shares of the company's stock were exchanged, compared to its average volume of 3,878,306. The company's fifty day moving average price is $6.24 and its 200-day moving average price is $7.22. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.29 and a current ratio of 3.21. Amicus Therapeutics, Inc. has a fifty-two week low of $5.51 and a fifty-two week high of $12.65. The firm has a market capitalization of $2.26 billion, a PE ratio of -61.20 and a beta of 0.53.

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.