Millennium Management LLC Increases 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 increased its stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 635.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,359,389 shares of the biopharmaceutical company's stock after buying an additional 2,902,375 shares during the quarter. Millennium Management LLC owned 1.09% of Amicus Therapeutics worth $27,413,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Virtus Fund Advisers LLC bought a new position in Amicus Therapeutics in the 4th quarter worth approximately $29,000. PNC Financial Services Group Inc. raised its holdings in shares of Amicus Therapeutics by 211.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 3,497 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Amicus Therapeutics in the first quarter valued at approximately $53,000. GF Fund Management CO. LTD. purchased a new position in shares of Amicus Therapeutics during the 4th quarter valued at about $59,000. Finally, GAMMA Investing LLC raised its stake in shares of Amicus Therapeutics by 1,610.8% during the first quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company's stock worth $61,000 after acquiring an additional 7,007 shares in the last quarter.

Wall Street Analyst Weigh In

FOLD has been the topic of a number of research analyst reports. Morgan Stanley upgraded Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a report on Thursday, July 17th. Wall Street Zen lowered shares of Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.00.

Amicus Therapeutics Stock Up 0.9%

NASDAQ:FOLD traded up $0.08 during mid-day trading on Wednesday, hitting $8.09. 757,575 shares of the company's stock traded hands, compared to its average volume of 3,862,110. Amicus Therapeutics, Inc. has a twelve month low of $5.51 and a twelve month high of $12.65. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.29 and a current ratio of 3.21. The company has a market capitalization of $2.49 billion, a P/E ratio of -67.45 and a beta of 0.55. The company has a fifty day moving average of $7.01 and a 200 day moving average of $6.98.

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.