Norges Bank Invests $29.03 Million in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Norges Bank purchased a new position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,082,036 shares of the biopharmaceutical company's stock, valued at approximately $29,033,000. Norges Bank owned about 1.03% of Amicus Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FOLD. Prudential Financial Inc. raised its holdings in Amicus Therapeutics by 4.6% in the fourth quarter. Prudential Financial Inc. now owns 479,449 shares of the biopharmaceutical company's stock valued at $4,516,000 after buying an additional 21,000 shares during the period. Vanguard Group Inc. increased its position in shares of Amicus Therapeutics by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 29,258,963 shares of the biopharmaceutical company's stock worth $275,619,000 after acquiring an additional 458,143 shares in the last quarter. Fox Run Management L.L.C. increased its position in shares of Amicus Therapeutics by 93.1% in the fourth quarter. Fox Run Management L.L.C. now owns 62,570 shares of the biopharmaceutical company's stock worth $589,000 after acquiring an additional 30,162 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Amicus Therapeutics in the 4th quarter valued at $462,000. Finally, AXQ Capital LP acquired a new position in shares of Amicus Therapeutics during the 4th quarter valued at $171,000.

Analyst Upgrades and Downgrades

FOLD has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on Amicus Therapeutics from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $21.00 target price on shares of Amicus Therapeutics in a report on Wednesday, January 15th. StockNews.com cut Amicus Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Morgan Stanley reiterated an "equal weight" rating and set a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Finally, Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.75.

Amicus Therapeutics Stock Down 0.5 %

Shares of NASDAQ:FOLD traded down $0.03 during midday trading on Friday, reaching $6.48. The company had a trading volume of 3,810,888 shares, compared to its average volume of 2,600,124. The stock has a market capitalization of $1.99 billion, a P/E ratio of -36.00, a PEG ratio of 1.51 and a beta of 0.79. The stock's fifty day moving average price is $8.71 and its 200-day moving average price is $9.65. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.39 and a quick ratio of 2.42. Amicus Therapeutics, Inc. has a one year low of $6.20 and a one year high of $12.65.

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.