Rock Springs Capital Management LP Increases Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Rock Springs Capital Management LP grew its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 107.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,599,425 shares of the biopharmaceutical company's stock after acquiring an additional 1,349,145 shares during the period. Rock Springs Capital Management LP owned about 0.87% of Amicus Therapeutics worth $24,487,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Amicus Therapeutics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 29,258,963 shares of the biopharmaceutical company's stock worth $275,619,000 after purchasing an additional 458,143 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Amicus Therapeutics by 18.8% in the 4th quarter. Wellington Management Group LLP now owns 28,461,994 shares of the biopharmaceutical company's stock worth $268,112,000 after buying an additional 4,497,950 shares during the last quarter. Geode Capital Management LLC raised its holdings in Amicus Therapeutics by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company's stock worth $70,499,000 after buying an additional 80,926 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Amicus Therapeutics by 3.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,267,375 shares of the biopharmaceutical company's stock valued at $30,779,000 after purchasing an additional 107,348 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Amicus Therapeutics in the 4th quarter worth $29,033,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Amicus Therapeutics from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. StockNews.com downgraded shares of Amicus Therapeutics from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $21.00 target price on shares of Amicus Therapeutics in a research report on Wednesday, January 15th. 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.75.

Amicus Therapeutics Trading Up 1.4 %

NASDAQ FOLD traded up $0.10 on Thursday, hitting $7.20. 4,644,682 shares of the stock were exchanged, compared to its average volume of 2,620,406. The stock has a fifty day moving average price of $8.21 and a two-hundred day moving average price of $9.42. Amicus Therapeutics, Inc. has a 52-week low of $6.20 and a 52-week high of $12.65. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.42 and a current ratio of 3.39. The firm has a market capitalization of $2.21 billion, a P/E ratio of -40.00, a P/E/G ratio of 1.51 and a beta of 0.79.

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.