Wellington Management Group LLP Has $238.28 Million 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 boosted its holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,200,617 shares of the biopharmaceutical company's stock after acquiring an additional 738,623 shares during the quarter. Wellington Management Group LLP owned 9.48% of Amicus Therapeutics worth $238,277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FOLD. Virtus Fund Advisers LLC acquired a new position in Amicus Therapeutics in the fourth quarter valued at about $29,000. PNC Financial Services Group Inc. boosted its position in 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 valued at $42,000 after buying an additional 3,497 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Amicus Therapeutics in the fourth quarter valued at about $59,000. GAMMA Investing LLC boosted its position in Amicus Therapeutics by 1,610.8% in the first quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company's stock valued at $61,000 after buying an additional 7,007 shares in the last quarter. Finally, Bryce Point Capital LLC acquired a new position in Amicus Therapeutics in the first quarter valued at about $100,000.

Wall Street Analyst Weigh In

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

Amicus Therapeutics Trading Down 1.0%

NASDAQ FOLD traded down $0.0750 during trading hours on Monday, hitting $7.5350. The company's stock had a trading volume of 666,072 shares, compared to its average volume of 3,860,782. The stock has a fifty day moving average of $6.35 and a 200 day moving average of $7.16. Amicus Therapeutics, Inc. has a twelve month low of $5.51 and a twelve month high of $12.65. The firm has a market capitalization of $2.32 billion, a P/E ratio of -62.87 and a beta of 0.53. The company has a quick ratio of 2.29, a current ratio of 3.21 and a debt-to-equity ratio of 1.92.

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.