Prosight Management LP Buys Shares of 920,000 Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Prosight Management LP bought a new stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 920,000 shares of the biopharmaceutical company's stock, valued at approximately $8,666,000. Amicus Therapeutics comprises approximately 2.4% of Prosight Management LP's investment portfolio, making the stock its 15th largest position. Prosight Management LP owned about 0.31% of Amicus Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC bought a new position in shares of Amicus Therapeutics in the fourth quarter worth approximately $123,000. Avanza Fonder AB purchased a new position in shares of Amicus Therapeutics during the fourth quarter valued at approximately $157,000. KBC Group NV grew its position in Amicus Therapeutics by 44.4% during the 4th quarter. KBC Group NV now owns 10,154 shares of the biopharmaceutical company's stock valued at $96,000 after purchasing an additional 3,120 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Amicus Therapeutics during the 4th quarter valued at about $79,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Amicus Therapeutics by 11.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 63,358 shares of the biopharmaceutical company's stock valued at $597,000 after acquiring an additional 6,314 shares during the period.

Wall Street Analyst Weigh In

FOLD has been the subject of a number of research reports. StockNews.com downgraded Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Wells Fargo & Company cut their price target on shares of Amicus Therapeutics from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. The Goldman Sachs Group dropped their price objective on shares of Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group raised their target price on Amicus Therapeutics from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.22.

Amicus Therapeutics Stock Up 2.4%

NASDAQ FOLD traded up $0.16 during trading hours on Tuesday, hitting $6.58. 1,669,346 shares of the company were exchanged, compared to its average volume of 3,342,910. Amicus Therapeutics, Inc. has a 52-week low of $5.81 and a 52-week high of $12.65. The company has a quick ratio of 2.42, a current ratio of 3.39 and a debt-to-equity ratio of 2.01. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -36.53, a PEG ratio of 1.51 and a beta of 0.64. The company has a 50 day moving average of $7.32 and a two-hundred day moving average of $8.85.

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.