Alliancebernstein L.P. Reduces Stock Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Alliancebernstein L.P. cut its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 1.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 362,429 shares of the biopharmaceutical company’s stock after selling 6,800 shares during the quarter. Alliancebernstein L.P.’s holdings in Amicus Therapeutics were worth $3,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Amicus Therapeutics in the 4th quarter worth approximately $79,000. KBC Group NV increased its holdings in Amicus Therapeutics by 44.4% during the fourth quarter. KBC Group NV now owns 10,154 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 3,120 shares during the last quarter. Sciencast Management LP purchased a new position in shares of Amicus Therapeutics during the 4th quarter worth $100,000. Stephens Inc. AR bought a new stake in shares of Amicus Therapeutics during the 4th quarter valued at $101,000. Finally, AlphaQuest LLC grew its position in shares of Amicus Therapeutics by 635.1% during the 4th quarter. AlphaQuest LLC now owns 10,732 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 9,272 shares during the period.

Amicus Therapeutics Stock Up 3.7 %

Shares of NASDAQ FOLD opened at $6.72 on Tuesday. The stock has a 50 day moving average price of $8.65 and a 200 day moving average price of $9.61. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -37.33, a PEG ratio of 1.51 and a beta of 0.79. 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.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 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. Wells Fargo & Company lowered their price objective on Amicus Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, February 20th. Finally, StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.75.

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.