William Blair Investment Management LLC Cuts Position in Amicus Therapeutics, Inc. $FOLD

Key Points

• William Blair Investment Management LLC reduced its stake in Amicus Therapeutics, Inc. by 0.9%, now holding 14,642,157 shares worth approximately $83.9 million.
• Several other institutional investors, including PNC Financial Services and CWM LLC, significantly increased their positions in Amicus during the first and second quarters.
• Analyst ratings for Amicus Therapeutics vary, with Weiss Ratings reaffirming a "sell" rating while Zacks Research upgraded it to a "strong-buy," suggesting a consensus rating of "Moderate Buy."

William Blair Investment Management LLC decreased its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,642,157 shares of the biopharmaceutical company's stock after selling 136,494 shares during the quarter. William Blair Investment Management LLC owned 4.76% of Amicus Therapeutics worth $83,900,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Strs Ohio purchased a new stake in shares of Amicus Therapeutics during the first quarter worth $30,000. PNC Financial Services Group Inc. increased its position in shares of Amicus Therapeutics by 211.4% during 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 period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Amicus Therapeutics during the first quarter worth $53,000. CWM LLC increased its position in shares of Amicus Therapeutics by 395.9% during the second quarter. CWM LLC now owns 9,397 shares of the biopharmaceutical company's stock worth $54,000 after acquiring an additional 7,502 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Amicus Therapeutics by 1,610.8% during the first quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company's stock worth $61,000 after acquiring an additional 7,007 shares during the period.

Amicus Therapeutics Stock Performance

Shares of FOLD stock opened at $8.04 on Friday. 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 fifty day moving average price of $7.88 and a 200 day moving average price of $6.89. The company has a market cap of $2.48 billion, a P/E ratio of -66.99 and a beta of 0.56. Amicus Therapeutics, Inc. has a 12 month low of $5.51 and a 12 month high of $12.65.

Analyst Ratings Changes

A number of research firms have recently weighed in on FOLD. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Amicus Therapeutics in a research report on Wednesday, October 8th. Zacks Research raised Amicus Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Needham & Company LLC raised Amicus Therapeutics from a "hold" rating to a "buy" rating and set a $14.00 price objective on the stock in a research report on Thursday, September 18th. Wall Street Zen lowered Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Morgan Stanley upgraded shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $15.88.

Amicus Therapeutics Company 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.

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