Old West Investment Management LLC Takes Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Old West Investment Management LLC acquired a new position in Amicus Therapeutics, Inc. (NASDAQ:FOLD) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 47,465 shares of the biopharmaceutical company’s stock, valued at approximately $471,000.

A number of other large investors have also recently added to or reduced their stakes in FOLD. Wellington Management Group LLP lifted its holdings in shares of Amicus Therapeutics by 101.9% in the fourth quarter. Wellington Management Group LLP now owns 15,190,024 shares of the biopharmaceutical company’s stock valued at $215,546,000 after purchasing an additional 7,666,335 shares in the last quarter. Norges Bank purchased a new stake in Amicus Therapeutics in the 4th quarter valued at approximately $35,915,000. Blackstone Inc. acquired a new stake in Amicus Therapeutics during the 4th quarter valued at $35,008,000. Janus Henderson Group PLC grew its holdings in Amicus Therapeutics by 20.1% during the 1st quarter. Janus Henderson Group PLC now owns 13,814,514 shares of the biopharmaceutical company’s stock valued at $162,713,000 after buying an additional 2,307,385 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Amicus Therapeutics by 583.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,176,600 shares of the biopharmaceutical company’s stock worth $25,640,000 after buying an additional 1,858,100 shares in the last quarter.

Amicus Therapeutics Trading Down 2.1 %

FOLD stock opened at $11.06 on Tuesday. Amicus Therapeutics, Inc. has a 52 week low of $9.02 and a 52 week high of $14.57. The company has a market cap of $3.28 billion, a price-to-earnings ratio of -22.57 and a beta of 0.69. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93. The business has a fifty day simple moving average of $10.98 and a 200-day simple moving average of $10.76.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $126.67 million for the quarter, compared to analyst estimates of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) EPS. On average, equities research analysts expect that Amicus Therapeutics, Inc. will post -0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FOLD. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Friday, August 9th. Wells Fargo & Company initiated coverage on shares of Amicus Therapeutics in a report on Thursday, May 30th. They set an “overweight” rating and a $18.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Finally, Jefferies Financial Group began coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 target price for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.34, for a total value of $77,550.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $9,168,002.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Bradley L. Campbell sold 6,100 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $10.00, for a total transaction of $61,000.00. Following the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $8,866,540. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.34, for a total transaction of $77,550.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $9,168,002.36. The disclosure for this sale can be found here. Insiders sold a total of 21,100 shares of company stock worth $226,375 over the last ninety days. 2.20% of the stock is owned by company insiders.

Amicus Therapeutics Company 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.