3,235,538 Shares in Amicus Therapeutics, Inc. $FOLD Bought by Norges Bank

Norges Bank acquired a new stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,235,538 shares of the biopharmaceutical company’s stock, valued at approximately $18,540,000. Norges Bank owned approximately 1.05% of Amicus Therapeutics at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Amicus Therapeutics by 211.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 3,497 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Amicus Therapeutics by 26.4% in the first quarter. Deutsche Bank AG now owns 1,038,990 shares of the biopharmaceutical company’s stock worth $8,478,000 after buying an additional 216,882 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Amicus Therapeutics by 159.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 786,234 shares of the biopharmaceutical company’s stock valued at $6,416,000 after buying an additional 483,698 shares during the period. Invesco Ltd. boosted its position in shares of Amicus Therapeutics by 4.1% during the first quarter. Invesco Ltd. now owns 2,661,394 shares of the biopharmaceutical company’s stock valued at $21,717,000 after purchasing an additional 105,856 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Amicus Therapeutics in the first quarter worth $317,000.

Amicus Therapeutics Stock Down 0.5%

FOLD opened at $9.85 on Tuesday. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -246.19 and a beta of 0.46. The firm has a 50 day moving average price of $8.98 and a 200-day moving average price of $7.55. Amicus Therapeutics, Inc. has a twelve month low of $5.51 and a twelve month high of $10.57. The company has a quick ratio of 2.09, a current ratio of 2.99 and a debt-to-equity ratio of 1.70.

Amicus Therapeutics (NASDAQ:FOLD) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $169.06 million during the quarter, compared to the consensus estimate of $165.24 million. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Equities research analysts forecast that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 1st. Needham & Company LLC raised Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Thursday, September 18th. The Goldman Sachs Group raised their price target on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their price target on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Zacks Research upgraded shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

Insider Transactions at Amicus Therapeutics

In other Amicus Therapeutics news, insider Jeff Castelli sold 76,158 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $10.16, for a total value of $773,765.28. Following the transaction, the insider owned 439,318 shares of the company’s stock, valued at approximately $4,463,470.88. This represents a 14.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellen Rosenberg sold 23,621 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $10.00, for a total value of $236,210.00. Following the completion of the transaction, the insider directly owned 507,710 shares in the company, valued at $5,077,100. The trade was a 4.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,239 shares of company stock worth $2,165,304 in the last three months. 2.20% of the stock is owned by insiders.

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.