Envestnet Asset Management Inc. Lowers Holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Key Points

• Envestnet Asset Management Inc. reduced its stake in Amicus Therapeutics by 56.1%, selling 238,864 shares, and now holds 186,555 shares valued at approximately $1.52 million.
• Several large investors, including Peregrine Capital Management LLC and Allspring Global Investments Holdings LLC, have increased their holdings in Amicus Therapeutics during the first quarter, showing varied investment activity around the company.
• Equity analysts have mixed views on Amicus Therapeutics, with UBS Group raising its price target to $22 and Goldman Sachs lowering it to $9, while overall the stock has an average rating of "Moderate Buy" with a price target of $16.22.

Envestnet Asset Management Inc. decreased its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 56.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,555 shares of the biopharmaceutical company's stock after selling 238,864 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Amicus Therapeutics worth $1,522,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Amicus Therapeutics during the fourth quarter valued at about $132,000. Thrivent Financial for Lutherans purchased a new stake in Amicus Therapeutics during the fourth quarter valued at about $104,000. KLP Kapitalforvaltning AS purchased a new stake in Amicus Therapeutics during the fourth quarter valued at about $462,000. Vanguard Group Inc. lifted its holdings in Amicus Therapeutics by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,258,963 shares of the biopharmaceutical company's stock valued at $275,619,000 after purchasing an additional 458,143 shares during the last quarter. Finally, Norges Bank purchased a new stake in Amicus Therapeutics during the fourth quarter valued at about $29,033,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FOLD shares. Wall Street Zen raised shares of Amicus Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group upped 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. The Goldman Sachs Group lowered their price target 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. Finally, Morgan Stanley upgraded shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Amicus Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $16.22.

Amicus Therapeutics Stock Performance

NASDAQ FOLD traded up $0.44 during trading hours on Monday, hitting $6.76. The company's stock had a trading volume of 1,962,962 shares, compared to its average volume of 3,830,125. Amicus Therapeutics, Inc. has a 12 month low of $5.51 and a 12 month high of $12.65. The company's 50 day simple moving average is $6.05 and its two-hundred day simple moving average is $7.42. The company has a market cap of $2.08 billion, a P/E ratio of -56.29 and a beta of 0.53. The company has a debt-to-equity ratio of 1.92, a current ratio of 3.21 and a quick ratio of 2.29.

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.