Sphera Funds Management LTD. Reduces Position in Amicus Therapeutics, Inc. (FOLD)
Sphera Funds Management LTD. lowered its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 20.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 400,000 shares of the biopharmaceutical company’s stock after selling 100,000 shares during the period. Sphera Funds Management LTD. owned 0.28% of Amicus Therapeutics worth $4,028,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP increased its position in Amicus Therapeutics by 358.4% in the first quarter. Wellington Management Group LLP now owns 5,341,132 shares of the biopharmaceutical company’s stock worth $38,083,000 after buying an additional 4,175,995 shares during the period. Morgan Stanley increased its position in Amicus Therapeutics by 99.4% in the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock worth $43,696,000 after buying an additional 3,055,039 shares during the period. Point72 Asset Management L.P. acquired a new position in Amicus Therapeutics during the first quarter worth approximately $21,394,000. Palo Alto Investors LLC increased its position in Amicus Therapeutics by 23.0% in the first quarter. Palo Alto Investors LLC now owns 7,882,988 shares of the biopharmaceutical company’s stock worth $56,206,000 after buying an additional 1,472,958 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Amicus Therapeutics during the first quarter worth approximately $7,346,000.
Amicus Therapeutics, Inc. (NASDAQ FOLD) traded up 2.73% during mid-day trading on Friday, hitting $14.32. 2,549,469 shares of the stock were exchanged. The firm’s market cap is $2.36 billion. The company has a 50 day moving average of $13.13 and a 200 day moving average of $9.28. Amicus Therapeutics, Inc. has a 12-month low of $4.41 and a 12-month high of $14.37.
Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. The firm had revenue of $7.16 million for the quarter, compared to analyst estimates of $6.96 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, equities analysts anticipate that Amicus Therapeutics, Inc. will post ($1.38) earnings per share for the current fiscal year.
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FOLD has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Amicus Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub upgraded shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Robert W. Baird restated an “outperform” rating and issued a $12.00 price target on shares of Amicus Therapeutics in a report on Friday, June 30th. Bank of America Corporation lowered their price target on shares of Amicus Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Finally, Chardan Capital restated a “buy” rating and issued a $12.50 price target on shares of Amicus Therapeutics in a report on Thursday, June 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $14.58.
In related news, insider Jay Barth sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $10.00, for a total transaction of $300,000.00. Following the sale, the insider now directly owns 64,184 shares in the company, valued at $641,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The shares were purchased at an average price of $12.25 per share, for a total transaction of $18,375,000.00. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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