Point72 Asset Management L.P. Makes New $13.53 Million Investment in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Point72 Asset Management L.P. bought a new stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,266,900 shares of the biopharmaceutical company's stock, valued at approximately $13,530,000. Point72 Asset Management L.P. owned 0.42% of Amicus Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Parkman Healthcare Partners LLC boosted its holdings 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 valued at $6,465,000 after purchasing an additional 102,855 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Amicus Therapeutics during the 3rd quarter worth approximately $55,000. Erste Asset Management GmbH acquired a new stake in Amicus Therapeutics in the 3rd quarter valued at $1,251,000. Edgestream Partners L.P. grew its position in Amicus Therapeutics by 184.6% in the third quarter. Edgestream Partners L.P. now owns 258,605 shares of the biopharmaceutical company's stock valued at $2,762,000 after acquiring an additional 167,735 shares during the period. Finally, PDT Partners LLC acquired a new position in Amicus Therapeutics during the third quarter worth $2,702,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FOLD shares. Cantor Fitzgerald boosted their target price on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They issued a "buy" rating and a $18.00 price target on the stock. Guggenheim upped their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a "hold" rating on shares of Amicus Therapeutics in a research note on Thursday, November 7th. Finally, Morgan Stanley decreased their price target on Amicus Therapeutics from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Amicus Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $17.63.

Insider Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.02, for a total value of $75,150.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at $8,884,273.08. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 30,401 shares of company stock worth $339,363 over the last 90 days. 2.20% of the stock is owned by insiders.

Amicus Therapeutics Trading Down 0.3 %

FOLD stock traded down $0.03 during trading on Friday, hitting $9.73. The company had a trading volume of 6,562,299 shares, compared to its average volume of 2,117,583. The firm has a 50-day moving average price of $10.59 and a 200-day moving average price of $10.60. Amicus Therapeutics, Inc. has a 12 month low of $9.02 and a 12 month high of $14.57. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -28.62 and a beta of 0.60.

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.