Amicus Therapeutics, Inc. (NASDAQ:FOLD) is Redmile Group LLC’s 2nd Largest Position

Redmile Group LLC lessened its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 10.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,257,286 shares of the biopharmaceutical company’s stock after selling 1,571,035 shares during the quarter. Amicus Therapeutics makes up approximately 5.7% of Redmile Group LLC’s investment portfolio, making the stock its 2nd biggest holding. Redmile Group LLC’s holdings in Amicus Therapeutics were worth $156,171,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FOLD. Vanguard Group Inc. lifted its holdings in shares of Amicus Therapeutics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock worth $404,308,000 after acquiring an additional 1,360,613 shares during the last quarter. Norges Bank bought a new stake in Amicus Therapeutics in the fourth quarter worth about $35,915,000. UBS Group AG lifted its stake in Amicus Therapeutics by 58.1% in the fourth quarter. UBS Group AG now owns 824,708 shares of the biopharmaceutical company’s stock worth $11,703,000 after purchasing an additional 303,038 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Amicus Therapeutics by 32.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,415,090 shares of the biopharmaceutical company’s stock valued at $34,270,000 after buying an additional 593,131 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Amicus Therapeutics during the fourth quarter valued at approximately $1,178,000.

Amicus Therapeutics Stock Down 0.7 %

NASDAQ:FOLD traded down $0.07 during mid-day trading on Monday, reaching $10.11. The company’s stock had a trading volume of 3,829,157 shares, compared to its average volume of 2,816,233. The company has a quick ratio of 2.61, a current ratio of 3.03 and a debt-to-equity ratio of 2.97. Amicus Therapeutics, Inc. has a 1 year low of $9.02 and a 1 year high of $14.57. The stock has a fifty day moving average of $10.09 and a 200-day moving average of $11.21. The firm has a market capitalization of $2.99 billion, a PE ratio of -20.63 and a beta of 0.71.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. Amicus Therapeutics had a negative net margin of 34.73% and a negative return on equity of 77.08%. The business had revenue of $110.40 million during the quarter, compared to analyst estimates of $111.19 million. During the same quarter in the previous year, the business posted ($0.18) EPS. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. Equities research analysts forecast that Amicus Therapeutics, Inc. will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

FOLD has been the subject of a number of research analyst reports. UBS Group decreased their price target on Amicus Therapeutics from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Bank of America decreased their target price on Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Wells Fargo & Company assumed coverage on shares of Amicus Therapeutics in a report on Thursday, May 30th. They issued an “overweight” rating and a $18.00 price target on the stock. Morgan Stanley reduced their price target on shares of Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, Guggenheim raised shares of Amicus Therapeutics from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, May 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.57.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 6,100 shares of Amicus Therapeutics stock in a transaction on Friday, July 5th. The stock was sold at an average price of $10.00, for a total value of $61,000.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $8,866,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $10.07, for a total transaction of $75,525.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $8,928,605.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bradley L. Campbell sold 6,100 shares of Amicus Therapeutics stock in a transaction on Friday, July 5th. The stock was sold at an average price of $10.00, for a total transaction of $61,000.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at $8,866,540. The disclosure for this sale can be found here. 2.20% of the stock is owned by company 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.