Amicus Therapeutics, Inc. (NASDAQ:FOLD) Stake Lowered by State Street Corp

State Street Corp trimmed its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,970,746 shares of the biopharmaceutical company’s stock after selling 46,217 shares during the period. State Street Corp owned about 3.67% of Amicus Therapeutics worth $117,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC raised its stake in shares of Amicus Therapeutics by 12.8% during the 2nd quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock worth $128,993,000 after purchasing an additional 1,477,084 shares in the last quarter. Fiera Capital Corp increased its holdings in Amicus Therapeutics by 1.1% in the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock worth $52,382,000 after buying an additional 58,113 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Amicus Therapeutics by 4.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,160,027 shares of the biopharmaceutical company’s stock valued at $33,749,000 after acquiring an additional 139,491 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amicus Therapeutics by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company’s stock valued at $28,486,000 after acquiring an additional 242,672 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Amicus Therapeutics by 17.9% in the second quarter. Victory Capital Management Inc. now owns 2,273,959 shares of the biopharmaceutical company’s stock worth $22,558,000 after acquiring an additional 345,117 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FOLD. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Morgan Stanley reiterated an “equal weight” rating and set a $12.00 price target (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday. Guggenheim raised their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Bank of America upped their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amicus Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $16.88.

Insiders Place Their Bets

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $11.46, for a total value of $85,950.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $10,161,054.84. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 30,401 shares of company stock worth $339,363 in the last ninety days. Insiders own 2.20% of the company’s stock.

Amicus Therapeutics Stock Down 7.8 %

FOLD opened at $9.36 on Monday. Amicus Therapeutics, Inc. has a 1-year low of $9.02 and a 1-year high of $14.57. The business has a 50 day moving average of $10.52 and a 200-day moving average of $10.62. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -27.53 and a beta of 0.60. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18.

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.