Connor Clark & Lunn Investment Management Ltd. Increases Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 51.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 222,934 shares of the biopharmaceutical company's stock after buying an additional 75,807 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Amicus Therapeutics worth $2,381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. OLD Second National Bank of Aurora bought a new stake in shares of Amicus Therapeutics in the 3rd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Amicus Therapeutics by 156.9% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 1,569 shares during the period. Blue Trust Inc. raised its holdings in shares of Amicus Therapeutics by 1,705.4% in the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company's stock worth $30,000 after purchasing an additional 2,831 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Amicus Therapeutics in the 3rd quarter worth approximately $32,000. Finally, Headlands Technologies LLC bought a new stake in shares of Amicus Therapeutics in the 2nd quarter worth approximately $89,000.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,901 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total value of $98,762.50. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $11,083,175. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 30,401 shares of company stock worth $352,038 in the last three months. Corporate insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FOLD. Cantor Fitzgerald lifted their price target on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Bank of America lifted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Guggenheim lifted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley reduced their price objective on shares of Amicus Therapeutics from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.63.

Amicus Therapeutics Price Performance

Shares of FOLD traded up $0.15 during mid-day trading on Tuesday, reaching $9.87. 1,537,440 shares of the stock traded hands, compared to its average volume of 2,709,086. The firm has a fifty day moving average price of $10.80 and a 200 day moving average price of $10.59. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -29.15 and a beta of 0.68. 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, Inc. has a 1 year low of $9.02 and a 1 year high of $14.57.

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.