Connor Clark & Lunn Investment Management Ltd. Buys 483,698 Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 159.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 786,234 shares of the biopharmaceutical company’s stock after acquiring an additional 483,698 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.26% of Amicus Therapeutics worth $6,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FOLD. Nuveen Asset Management LLC lifted its stake in shares of Amicus Therapeutics by 4.4% in the 4th quarter. Nuveen Asset Management LLC now owns 3,807,420 shares of the biopharmaceutical company’s stock worth $35,866,000 after purchasing an additional 159,139 shares during the period. Northern Trust Corp lifted its stake in shares of Amicus Therapeutics by 5.9% in the 4th quarter. Northern Trust Corp now owns 3,371,639 shares of the biopharmaceutical company’s stock worth $31,761,000 after purchasing an additional 187,652 shares during the period. Vestal Point Capital LP bought a new position in shares of Amicus Therapeutics in the 4th quarter worth approximately $31,557,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Amicus Therapeutics by 0.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,276,371 shares of the biopharmaceutical company’s stock worth $26,735,000 after purchasing an additional 8,996 shares during the period. Finally, Rock Springs Capital Management LP lifted its stake in shares of Amicus Therapeutics by 107.9% in the 4th quarter. Rock Springs Capital Management LP now owns 2,599,425 shares of the biopharmaceutical company’s stock worth $24,487,000 after purchasing an additional 1,349,145 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FOLD. Morgan Stanley upgraded shares of Amicus Therapeutics from an “equal weight” rating to an “overweight” rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. The Goldman Sachs Group lowered their price objective on shares of Amicus Therapeutics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group increased their price objective on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.22.

Amicus Therapeutics Trading Up 4.8%

Amicus Therapeutics stock opened at $6.98 on Wednesday. The firm has a 50 day moving average of $6.15 and a 200 day moving average of $7.31. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -58.16 and a beta of 0.53. Amicus Therapeutics, Inc. has a 12-month low of $5.51 and a 12-month high of $12.65. The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92.

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.