Parkman Healthcare Partners LLC Reduces Holdings in Amicus Therapeutics, Inc. $FOLD

Key Points

• Parkman Healthcare Partners LLC reduced its stake in Amicus Therapeutics by 27.5%, selling 215,424 shares during the first quarter.
• Amicus Therapeutics saw a stock price decline of 0.4%, opening at $7.99 with a market cap of $2.46 billion.
• Despite recent changes, analysts maintain a consensus rating of "Moderate Buy" for Amicus Therapeutics, with an average price target of $16.00.

Parkman Healthcare Partners LLC reduced its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 27.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 568,952 shares of the biopharmaceutical company's stock after selling 215,424 shares during the period. Parkman Healthcare Partners LLC owned 0.18% of Amicus Therapeutics worth $4,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FOLD. Raymond James Financial Inc. purchased a new stake in shares of Amicus Therapeutics in the 4th quarter valued at about $132,000. Northern Trust Corp lifted its holdings in shares of Amicus Therapeutics by 5.9% in the 4th quarter. Northern Trust Corp now owns 3,371,639 shares of the biopharmaceutical company's stock valued at $31,761,000 after purchasing an additional 187,652 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Amicus Therapeutics by 7.8% in the 4th quarter. Jane Street Group LLC now owns 324,270 shares of the biopharmaceutical company's stock valued at $3,055,000 after purchasing an additional 23,524 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Amicus Therapeutics by 4.2% in the 4th quarter. Ameriprise Financial Inc. now owns 403,127 shares of the biopharmaceutical company's stock valued at $3,797,000 after purchasing an additional 16,179 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of Amicus Therapeutics in the 4th quarter valued at about $113,000.

Amicus Therapeutics Price Performance

Shares of FOLD traded down $0.09 during mid-day trading on Tuesday, hitting $7.89. The company's stock had a trading volume of 2,643,701 shares, compared to its average volume of 3,818,289. 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 firm has a 50-day simple moving average of $6.83 and a 200 day simple moving average of $7.03. The firm has a market capitalization of $2.43 billion, a P/E ratio of -65.74 and a beta of 0.55. Amicus Therapeutics, Inc. has a 1-year low of $5.51 and a 1-year high of $12.65.

Wall Street Analyst Weigh In

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

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.