Millennium Management LLC Raises Stock Holdings in Amicus Therapeutics, Inc. $FOLD

Key Points

• Millennium Management LLC increased its holdings in Amicus Therapeutics by 635.1% in Q1 2023, acquiring an additional 2,902,375 shares for a total of 3,359,389 shares valued at approximately $27.4 million.
• Analysts have mixed opinions on Amicus Therapeutics with Morgan Stanley upgrading the stock to "overweight," while Wall Street Zen downgraded it from "buy" to "hold"; the consensus rating remains a "Moderate Buy" with a target price of $16.00.
• Amicus Therapeutics has seen a stock price range of $5.51 to $12.65 over the past year, with recent trading at approximately $8.02.

Millennium Management LLC lifted its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 635.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,359,389 shares of the biopharmaceutical company's stock after purchasing an additional 2,902,375 shares during the period. Millennium Management LLC owned about 1.09% of Amicus Therapeutics worth $27,413,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FOLD. Nuveen LLC bought a new stake in shares of Amicus Therapeutics during the 1st quarter worth $28,741,000. Vestal Point Capital LP bought a new stake in shares of Amicus Therapeutics during the 4th quarter worth $31,557,000. Redmile Group LLC raised its stake in Amicus Therapeutics by 35.1% in the 1st quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company's stock valued at $77,795,000 after acquiring an additional 2,478,779 shares during the period. Prosight Management LP bought a new stake in Amicus Therapeutics in the 4th quarter valued at about $8,666,000. Finally, Osterweis Capital Management Inc. bought a new stake in Amicus Therapeutics in the 1st quarter valued at about $6,730,000.

Amicus Therapeutics Price Performance

Shares of NASDAQ FOLD traded down $0.26 during midday trading on Monday, hitting $7.73. 3,394,050 shares of the company's stock were exchanged, compared to its average volume of 3,860,046. 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 $2.38 billion, a price-to-earnings ratio of -64.41 and a beta of 0.55. The business's fifty day moving average price is $6.94 and its two-hundred day moving average price is $6.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FOLD shares. Wall Street Zen cut Amicus Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Morgan Stanley upgraded Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $16.00.

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.