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JPMorgan Chase & Co. reduced its stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD – Free Report) by 44.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,214,250 shares of the biopharmaceutical company’s stock after selling 5,705,679 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.41% of Amicus Therapeutics worth $67,958,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Amicus Therapeutics in the third quarter valued at about $55,000. Point72 Asset Management L.P. purchased a new stake in shares of Amicus Therapeutics in the 3rd quarter valued at approximately $13,530,000. Point72 DIFC Ltd acquired a new stake in shares of Amicus Therapeutics during the 3rd quarter worth approximately $704,000. Wellington Management Group LLP increased its holdings in shares of Amicus Therapeutics by 13.5% during the 3rd quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock worth $255,936,000 after buying an additional 2,856,101 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Amicus Therapeutics during the 3rd quarter valued at approximately $405,000.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on FOLD shares. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 target price on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. StockNews.com downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Finally, Wells Fargo & Company decreased their price objective 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.75.
View Our Latest Stock Analysis on Amicus Therapeutics
Amicus Therapeutics Price Performance
Amicus Therapeutics stock opened at $7.50 on Friday. The company’s 50 day moving average is $9.12 and its two-hundred day moving average is $9.86. The firm has a market cap of $2.30 billion, a PE ratio of -41.67, a price-to-earnings-growth 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 52-week low of $7.39 and a 52-week 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.
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