Voya Investment Management LLC Reduces Position in Amicus Therapeutics, Inc. $FOLD

Key Points

• Voya Investment Management LLC reduced its stake in Amicus Therapeutics by 13.7%, selling 92,508 shares and retaining 583,845 shares valued at approximately $4.76 million.
• Recent analyst ratings include a downgrade from Wall Street Zen from "buy" to "hold" and an upgrade by Needham & Company from "hold" to "buy" with a price target of $14.00.
• Amicus Therapeutics has a market capitalization of $2.61 billion and its stock has ranged from a low of $5.51 to a high of $12.65 over the past 52 weeks.

Voya Investment Management LLC lessened its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 583,845 shares of the biopharmaceutical company's stock after selling 92,508 shares during the period. Voya Investment Management LLC owned 0.19% of Amicus Therapeutics worth $4,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Strs Ohio acquired a new stake in Amicus Therapeutics during the 1st quarter valued at $30,000. PNC Financial Services Group Inc. lifted its stake in shares of Amicus Therapeutics by 211.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 3,497 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Amicus Therapeutics in the 1st quarter valued at $53,000. GF Fund Management CO. LTD. bought a new stake in shares of Amicus Therapeutics in the 4th quarter worth about $59,000. Finally, GAMMA Investing LLC lifted its position in Amicus Therapeutics by 1,610.8% during the 1st quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company's stock valued at $61,000 after purchasing an additional 7,007 shares during the period.

Wall Street Analyst Weigh In

FOLD has been the subject of a number of research reports. Needham & Company LLC raised Amicus Therapeutics from a "hold" rating to a "buy" rating and set a $14.00 target price for the company in a report on Thursday. Wall Street Zen upgraded Amicus Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Morgan Stanley upgraded Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.78.

Amicus Therapeutics Price Performance

FOLD stock traded up $0.03 on Monday, hitting $8.36. 408,379 shares of the company's stock traded hands, compared to its average volume of 3,950,936. The stock has a fifty day moving average of $7.13 and a 200-day moving average of $6.95. Amicus Therapeutics, Inc. has a 1-year low of $5.51 and a 1-year high of $12.65. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -69.87 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.

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.