Redmile Group LLC Has $77.80 Million Stock Holdings in Amicus Therapeutics, Inc. $FOLD

Key Points

• Redmile Group LLC increased its stake in Amicus Therapeutics by 35.1%, owning 9,533,669 shares, which represents 7.4% of its portfolio.
• Several institutional investors have recently changed their stakes in Amicus, with PNC Financial Services increasing theirs by 211.4%, now owning 5,151 shares valued at $42,000.
• Amicus Therapeutics was rated as a "Moderate Buy" with a target price estimate of $16.22, despite a downgrade from a "buy" to a "hold" by some analysts.

Redmile Group LLC boosted its holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 35.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,533,669 shares of the biopharmaceutical company's stock after buying an additional 2,478,779 shares during the quarter. Amicus Therapeutics makes up 7.4% of Redmile Group LLC's holdings, making the stock its 3rd biggest holding. Redmile Group LLC owned approximately 3.10% of Amicus Therapeutics worth $77,795,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FOLD. Nuveen LLC acquired a new stake in shares of Amicus Therapeutics during the first quarter valued at about $28,741,000. Vestal Point Capital LP bought a new stake in Amicus Therapeutics in the fourth quarter worth approximately $31,557,000. Orbimed Advisors LLC increased its holdings in shares of Amicus Therapeutics by 300.7% during the fourth quarter. Orbimed Advisors LLC now owns 2,285,400 shares of the biopharmaceutical company's stock valued at $21,528,000 after acquiring an additional 1,715,100 shares in the last quarter. Prosight Management LP bought a new stake in shares of Amicus Therapeutics during the fourth quarter valued at approximately $8,666,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Amicus Therapeutics by 132.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,560,410 shares of the biopharmaceutical company's stock valued at $14,699,000 after acquiring an additional 889,968 shares in the last quarter.

Amicus Therapeutics Stock Down 0.4%

NASDAQ:FOLD traded down $0.03 on Friday, reaching $7.99. 5,558,774 shares of the stock traded hands, compared to its average volume of 3,714,259. The company's fifty day simple moving average is $6.74 and its 200 day simple moving average is $7.06. Amicus Therapeutics, Inc. has a 12 month low of $5.51 and a 12 month high of $12.65. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -66.58 and a beta of 0.55. The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92.

Analyst Ratings Changes

Several brokerages recently issued reports on FOLD. Wall Street Zen cut Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Morgan Stanley raised shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday, July 17th. Seven 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 has an average rating of "Moderate Buy" and a consensus target price 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.