Pictet Asset Management Holding SA Reduces Holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Pictet Asset Management Holding SA reduced its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,517,636 shares of the biopharmaceutical company’s stock after selling 110,241 shares during the period. Pictet Asset Management Holding SA owned about 0.51% of Amicus Therapeutics worth $14,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Amicus Therapeutics in the 3rd quarter worth $55,000. R Squared Ltd acquired a new position in shares of Amicus Therapeutics in the fourth quarter worth about $79,000. Virtu Financial LLC purchased a new position in Amicus Therapeutics in the third quarter valued at about $107,000. KBC Group NV grew its stake in Amicus Therapeutics by 44.4% during the 4th quarter. KBC Group NV now owns 10,154 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 3,120 shares in the last quarter. Finally, Sciencast Management LP purchased a new stake in Amicus Therapeutics during the 4th quarter worth approximately $100,000.

Amicus Therapeutics Stock Performance

FOLD stock opened at $7.95 on Wednesday. The stock’s fifty day moving average is $9.22 and its two-hundred day moving average is $9.91. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -44.17, a PEG ratio of 1.51 and a beta of 0.69. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.42 and a current ratio of 3.39. Amicus Therapeutics, Inc. has a 1 year low of $7.88 and a 1 year high of $12.65.

Analyst Ratings Changes

A number of research firms have recently weighed in on FOLD. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price target on shares of Amicus Therapeutics in a research report on Wednesday, January 15th. Morgan Stanley reissued an “equal weight” rating and set a $12.00 price objective (down from $17.00) on shares of Amicus Therapeutics in a report on Friday, December 13th. Wells Fargo & Company reduced their price target on shares of Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. StockNews.com lowered Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Amicus Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $16.75.

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.