Wedge Capital Management L L P NC Decreases Holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Wedge Capital Management L L P NC lowered its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 23.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 143,778 shares of the biopharmaceutical company’s stock after selling 45,007 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Amicus Therapeutics were worth $1,173,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its holdings in Amicus Therapeutics by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 30,696 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 1,280 shares during the last quarter. Xponance Inc. boosted its stake in Amicus Therapeutics by 11.9% in the 4th quarter. Xponance Inc. now owns 21,216 shares of the biopharmaceutical company’s stock worth $200,000 after purchasing an additional 2,249 shares during the period. Covestor Ltd boosted its stake in Amicus Therapeutics by 114.9% in the 4th quarter. Covestor Ltd now owns 4,325 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 2,312 shares during the period. Virtus Fund Advisers LLC bought a new position in Amicus Therapeutics in the 4th quarter worth about $29,000. Finally, Swiss National Bank boosted its stake in Amicus Therapeutics by 0.7% in the 4th quarter. Swiss National Bank now owns 437,500 shares of the biopharmaceutical company’s stock worth $4,121,000 after purchasing an additional 3,200 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on FOLD. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. UBS Group raised their target price on Amicus Therapeutics from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. The Goldman Sachs Group cut their target price on Amicus Therapeutics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company cut their target price on Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Wall Street Zen downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.22.

Amicus Therapeutics Stock Performance

Shares of FOLD opened at $6.11 on Wednesday. The company has a market cap of $1.88 billion, a PE ratio of -33.94, a price-to-earnings-growth ratio of 1.51 and a beta of 0.54. The company has a current ratio of 3.39, a quick ratio of 2.42 and a debt-to-equity ratio of 2.01. The stock has a 50-day moving average price of $6.54 and a 200-day moving average price of $8.40. Amicus Therapeutics, Inc. has a 12-month low of $5.81 and a 12-month high of $12.65.

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.