Wellington Management Group LLP Raises Position in Amicus Therapeutics, Inc. $FOLD

Key Points

• Wellington Management Group LLP increased its stake in Amicus Therapeutics by 2.6% in the first quarter, now owning 29.2 million shares worth approximately $238 million.
• Several hedge funds, including Nuveen Asset Management LLC and Northern Trust Corp, have also adjusted their positions, indicating a broader interest in Amicus Therapeutics.
• Wall Street analysts have mixed ratings on Amicus Therapeutics, with Goldman Sachs reducing its target price to $9, while firms like UBS Group gave a higher target price of $22 and a "buy" rating.

Wellington Management Group LLP raised its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,200,617 shares of the biopharmaceutical company's stock after purchasing an additional 738,623 shares during the period. Wellington Management Group LLP owned 9.48% of Amicus Therapeutics worth $238,277,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FOLD. Virtus Fund Advisers LLC bought a new position in Amicus Therapeutics during the 4th quarter valued at approximately $29,000. PNC Financial Services Group Inc. grew 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 acquiring an additional 3,497 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Amicus Therapeutics during the fourth quarter valued at $59,000. GAMMA Investing LLC raised its position in shares of Amicus Therapeutics by 1,610.8% in the 1st quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 7,007 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Amicus Therapeutics in the 4th quarter worth about $113,000.

Analysts Set New Price Targets

FOLD has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Amicus Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley raised shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research report on Thursday, July 17th. UBS Group upped their price objective on Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group reduced their target price on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.22.

Amicus Therapeutics Stock Performance

Shares of NASDAQ FOLD traded up $0.01 during midday trading on Friday, hitting $7.61. 3,924,062 shares of the stock traded hands, compared to its average volume of 4,473,011. The firm has a market capitalization of $2.35 billion, a P/E ratio of -63.41 and a beta of 0.53. Amicus Therapeutics, Inc. has a one year low of $5.51 and a one year 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 firm has a 50-day moving average of $6.35 and a two-hundred day moving average of $7.18.

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.