Elevation Point Wealth Partners LLC Makes New Investment in Amicus Therapeutics, Inc. $FOLD

Elevation Point Wealth Partners LLC acquired a new stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 375,720 shares of the biopharmaceutical company’s stock, valued at approximately $2,961,000. Elevation Point Wealth Partners LLC owned approximately 0.12% of Amicus Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Amicus Therapeutics during the 2nd quarter worth approximately $18,540,000. Jump Financial LLC lifted its position in Amicus Therapeutics by 246.3% in the 2nd quarter. Jump Financial LLC now owns 1,406,563 shares of the biopharmaceutical company’s stock valued at $8,060,000 after purchasing an additional 1,000,395 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of Amicus Therapeutics during the third quarter worth approximately $7,843,000. Principal Financial Group Inc. raised its stake in shares of Amicus Therapeutics by 1,229.5% during the third quarter. Principal Financial Group Inc. now owns 263,325 shares of the biopharmaceutical company’s stock valued at $2,075,000 after purchasing an additional 243,519 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP bought a new stake in shares of Amicus Therapeutics during the 2nd quarter worth about $201,000.

Analyst Upgrades and Downgrades

FOLD has been the topic of several recent analyst reports. Zacks Research cut Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Citigroup reaffirmed a “neutral” rating and set a $14.50 price target (down from $17.00) on shares of Amicus Therapeutics in a research note on Monday, December 22nd. Guggenheim downgraded Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Leerink Partners lowered Amicus Therapeutics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $17.00 to $14.50 in a report on Monday, December 29th. Finally, TD Cowen cut Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 target price for the company. in a research note on Monday, December 22nd. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.39.

Amicus Therapeutics Stock Performance

Shares of NASDAQ:FOLD opened at $14.37 on Friday. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of -179.63 and a beta of 0.43. Amicus Therapeutics, Inc. has a 1-year low of $5.51 and a 1-year high of $14.39. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.88 and a current ratio of 2.84. The company has a 50 day moving average price of $14.32 and a 200 day moving average price of $11.17.

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

Insiders Place Their Bets

In other news, insider David Michael Clark sold 25,642 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $14.17, for a total transaction of $363,347.14. Following the completion of the sale, the insider directly owned 245,690 shares of the company’s stock, valued at $3,481,427.30. This represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bradley L. Campbell sold 22,500 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $14.35, for a total value of $322,875.00. Following the completion of the transaction, the chief executive officer owned 998,680 shares of the company’s stock, valued at $14,331,058. This trade represents a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,711 shares of company stock worth $2,887,822 over the last ninety days. 2.20% of the stock is owned by insiders.

About Amicus Therapeutics

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.