Wellington Management Group LLP Buys 4,497,950 Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Wellington Management Group LLP boosted its stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,461,994 shares of the biopharmaceutical company’s stock after acquiring an additional 4,497,950 shares during the period. Wellington Management Group LLP owned 9.26% of Amicus Therapeutics worth $268,112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FOLD. Charles Schwab Investment Management Inc. increased its position in shares of Amicus Therapeutics by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company’s stock worth $28,486,000 after buying an additional 242,672 shares during the period. BNP Paribas Financial Markets raised its position in shares of Amicus Therapeutics by 66.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 565,976 shares of the biopharmaceutical company’s stock worth $6,045,000 after acquiring an additional 225,222 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Amicus Therapeutics in the 3rd quarter valued at about $1,251,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Amicus Therapeutics during the 3rd quarter valued at about $55,000. Finally, Parkman Healthcare Partners LLC grew its stake in Amicus Therapeutics by 20.5% during the third quarter. Parkman Healthcare Partners LLC now owns 605,318 shares of the biopharmaceutical company’s stock worth $6,465,000 after purchasing an additional 102,855 shares during the period.

Amicus Therapeutics Stock Down 2.6 %

FOLD stock opened at $7.95 on Wednesday. The firm has a market capitalization of $2.44 billion, a PE ratio of -44.17, a P/E/G ratio of 1.51 and a beta of 0.69. The company has a quick ratio of 2.42, a current ratio of 3.39 and a debt-to-equity ratio of 2.01. Amicus Therapeutics, Inc. has a twelve month low of $7.88 and a twelve month high of $12.65. The stock’s 50 day moving average is $9.22 and its 200-day moving average is $9.91.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price target on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Morgan Stanley reissued an “equal weight” rating and set a $12.00 target price (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. StockNews.com downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, February 20th. Finally, Wells Fargo & Company decreased their target price on Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.75.

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.