PNC Financial Services Group Inc. Increases Position in Amicus Therapeutics, Inc. $FOLD

PNC Financial Services Group Inc. grew its holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 211.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,151 shares of the biopharmaceutical company’s stock after buying an additional 3,497 shares during the period. PNC Financial Services Group Inc.’s holdings in Amicus Therapeutics were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Virtus Fund Advisers LLC purchased a new stake in shares of Amicus Therapeutics in the fourth quarter valued at about $29,000. GF Fund Management CO. LTD. acquired a new position in shares of Amicus Therapeutics during the fourth quarter worth about $59,000. GAMMA Investing LLC lifted its position in Amicus Therapeutics by 1,610.8% in the first quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 7,007 shares during the period. Bryce Point Capital LLC purchased a new stake in Amicus Therapeutics in the 1st quarter valued at approximately $100,000. Finally, Stephens Inc. AR boosted its holdings in Amicus Therapeutics by 27.4% in the 1st quarter. Stephens Inc. AR now owns 13,655 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 2,938 shares in the last quarter.

Amicus Therapeutics Trading Up 0.1%

Shares of FOLD opened at $7.61 on Friday. The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92. The firm’s 50-day moving average is $6.35 and its two-hundred day moving average is $7.20. Amicus Therapeutics, Inc. has a twelve month low of $5.51 and a twelve month high of $12.65. The firm has a market capitalization of $2.35 billion, a P/E ratio of -63.41 and a beta of 0.53.

Wall Street Analyst Weigh In

FOLD has been the topic of a number of analyst reports. UBS Group lifted their price objective on Amicus Therapeutics from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Morgan Stanley raised Amicus Therapeutics from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 17th. Wall Street Zen raised Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, The Goldman Sachs Group lowered their price objective on Amicus Therapeutics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.22.

About Amicus Therapeutics

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.