Intech Investment Management LLC Trims Stock Holdings in Amicus Therapeutics, Inc. $FOLD

Intech Investment Management LLC decreased its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 28.0% during the second quarter, HoldingsChannel reports. The fund owned 123,015 shares of the biopharmaceutical company’s stock after selling 47,907 shares during the quarter. Intech Investment Management LLC’s holdings in Amicus Therapeutics were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Nuveen LLC purchased a new position in shares of Amicus Therapeutics in the first quarter valued at $28,741,000. Assenagon Asset Management S.A. boosted its stake in Amicus Therapeutics by 641.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,533,854 shares of the biopharmaceutical company’s stock worth $20,249,000 after purchasing an additional 3,057,072 shares during the period. Millennium Management LLC grew its holdings in Amicus Therapeutics by 635.1% during the 1st quarter. Millennium Management LLC now owns 3,359,389 shares of the biopharmaceutical company’s stock valued at $27,413,000 after buying an additional 2,902,375 shares in the last quarter. Redmile Group LLC increased its position in shares of Amicus Therapeutics by 35.1% during the first quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company’s stock valued at $77,795,000 after buying an additional 2,478,779 shares during the period. Finally, M&G PLC purchased a new stake in shares of Amicus Therapeutics in the second quarter worth about $11,310,000.

Analyst Ratings Changes

Several brokerages recently commented on FOLD. Needham & Company LLC raised shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Thursday, September 18th. Zacks Research upgraded shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. increased their price objective on Amicus Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Tuesday. Finally, Wall Street Zen raised Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Insider Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 14,587 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $10.04, for a total transaction of $146,453.48. Following the transaction, the chief executive officer directly owned 1,137,282 shares of the company’s stock, valued at approximately $11,418,311.28. This trade represents a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ellen Rosenberg sold 36,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $10.00, for a total value of $360,000.00. Following the completion of the sale, the insider directly owned 507,710 shares of the company’s stock, valued at approximately $5,077,100. This represents a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 201,652 shares of company stock valued at $2,019,288. 2.20% of the stock is currently owned by corporate insiders.

Amicus Therapeutics Stock Performance

NASDAQ FOLD opened at $10.02 on Thursday. Amicus Therapeutics, Inc. has a 52-week low of $5.51 and a 52-week high of $10.57. The company has a fifty day moving average of $8.73 and a 200-day moving average of $7.34. The company has a market capitalization of $3.09 billion, a P/E ratio of -83.49 and a beta of 0.66. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.29 and a current ratio of 3.21.

Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Amicus Therapeutics had a negative return on equity of 5.07% and a negative net margin of 6.67%.The business had revenue of $169.06 million for the quarter, compared to analysts’ expectations of $165.24 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Amicus Therapeutics has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

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.