Great Lakes Advisors LLC Lowers Stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Great Lakes Advisors LLC lessened its holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 37.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 357,586 shares of the biopharmaceutical company’s stock after selling 216,220 shares during the quarter. Great Lakes Advisors LLC owned about 0.13% of Amicus Therapeutics worth $4,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Amicus Therapeutics by 1.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,106,017 shares of the biopharmaceutical company’s stock valued at $26,452,000 after buying an additional 39,859 shares during the last quarter. Swiss National Bank increased its stake in Amicus Therapeutics by 1.5% during the 2nd quarter. Swiss National Bank now owns 461,600 shares of the biopharmaceutical company’s stock valued at $5,798,000 after purchasing an additional 6,800 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in Amicus Therapeutics in the second quarter worth about $1,664,000. American International Group Inc. raised its holdings in Amicus Therapeutics by 1.4% in the second quarter. American International Group Inc. now owns 134,975 shares of the biopharmaceutical company’s stock worth $1,695,000 after buying an additional 1,872 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Amicus Therapeutics by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,176,299 shares of the biopharmaceutical company’s stock worth $14,774,000 after buying an additional 4,944 shares in the last quarter.

Amicus Therapeutics Stock Performance

Shares of FOLD opened at $11.04 on Tuesday. The firm has a market capitalization of $3.24 billion, a P/E ratio of -18.71 and a beta of 0.87. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.73 and a quick ratio of 2.40. Amicus Therapeutics, Inc. has a one year low of $9.70 and a one year high of $14.10. The business has a fifty day moving average of $11.32 and a 200 day moving average of $12.14.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $103.50 million during the quarter, compared to the consensus estimate of $102.30 million. Amicus Therapeutics had a negative return on equity of 147.61% and a negative net margin of 46.61%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. As a group, sell-side analysts anticipate that Amicus Therapeutics, Inc. will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman John F. Crowley sold 6,043 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $10.84, for a total transaction of $65,506.12. Following the completion of the sale, the chairman now owns 889,834 shares of the company’s stock, valued at approximately $9,645,800.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 18,093 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $12.97, for a total transaction of $234,666.21. Following the sale, the chief executive officer now owns 792,161 shares in the company, valued at approximately $10,274,328.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman John F. Crowley sold 6,043 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $10.84, for a total transaction of $65,506.12. Following the completion of the transaction, the chairman now owns 889,834 shares of the company’s stock, valued at $9,645,800.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,756 shares of company stock worth $915,175. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Amicus Therapeutics from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. JPMorgan Chase & Co. boosted their price target on Amicus Therapeutics from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, September 29th. StockNews.com initiated coverage on Amicus Therapeutics in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Bank of America boosted their target price on Amicus Therapeutics from $16.00 to $19.00 in a research report on Friday, September 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.17.

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 based on in vitro assay data.