Amicus Therapeutics, Inc. $FOLD Stock Position Decreased by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 8.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 378,729 shares of the biopharmaceutical company’s stock after selling 36,309 shares during the quarter. Rafferty Asset Management LLC’s holdings in Amicus Therapeutics were worth $2,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vestal Point Capital LP grew its position in Amicus Therapeutics by 178.4% in the second quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock worth $68,187,000 after acquiring an additional 7,625,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Amicus Therapeutics in the 2nd quarter valued at $18,540,000. Qube Research & Technologies Ltd boosted its holdings in Amicus Therapeutics by 223.9% in the second quarter. Qube Research & Technologies Ltd now owns 3,466,911 shares of the biopharmaceutical company’s stock worth $19,865,000 after purchasing an additional 2,396,410 shares in the last quarter. State Street Corp increased its position in Amicus Therapeutics by 21.5% during the second quarter. State Street Corp now owns 11,568,097 shares of the biopharmaceutical company’s stock worth $66,285,000 after buying an additional 2,049,078 shares during the last quarter. Finally, M&G PLC bought a new position in Amicus Therapeutics during the second quarter valued at about $11,310,000.

Amicus Therapeutics Stock Down 0.1%

Shares of FOLD stock opened at $14.33 on Thursday. Amicus Therapeutics, Inc. has a 12 month low of $5.51 and a 12 month high of $14.38. The company has a quick ratio of 1.88, a current ratio of 2.84 and a debt-to-equity ratio of 1.43. The firm has a market cap of $4.50 billion, a PE ratio of -179.13 and a beta of 0.43. The stock has a 50 day moving average of $14.30 and a 200-day moving average of $10.83.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The company had revenue of $185.21 million for the quarter, compared to the consensus estimate of $185.00 million. Amicus Therapeutics had a positive return on equity of 4.15% and a negative net margin of 4.27%.The company’s revenue was up 23.7% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. On average, equities analysts predict that Amicus Therapeutics, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

FOLD has been the subject of several recent analyst reports. Leerink Partners downgraded Amicus Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.00 to $14.50 in a research note on Monday, December 29th. Wall Street Zen raised Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Cantor Fitzgerald downgraded Amicus Therapeutics from an “overweight” rating to a “hold” rating and lowered their price target for the company from $21.00 to $14.50 in a report on Friday, December 19th. Citigroup reaffirmed a “neutral” rating and set a $14.50 price objective (down from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $14.50 target price (down from $16.00) on shares of Amicus Therapeutics in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.39.

Insider Activity

In related news, insider David Michael Clark sold 25,643 shares of Amicus Therapeutics stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $11.00, for a total transaction of $282,073.00. Following the sale, the insider directly owned 271,332 shares of the company’s stock, valued at $2,984,652. This trade represents a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bradley L. Campbell sold 77,926 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $10.86, for a total value of $846,276.36. Following the completion of the transaction, the chief executive officer directly owned 1,129,782 shares of the company’s stock, valued at approximately $12,269,432.52. This trade represents a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 226,711 shares of company stock worth $2,887,822. Insiders own 2.20% of the company’s stock.

Amicus Therapeutics Company Profile

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.