375,720 Shares in Amicus Therapeutics, Inc. $FOLD Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 375,720 shares of the biopharmaceutical company’s stock, valued at approximately $2,961,000.

A number of other hedge funds also recently modified their holdings of FOLD. Vestal Point Capital LP boosted its position in shares of Amicus Therapeutics by 178.4% in the second quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock worth $68,187,000 after buying an additional 7,625,000 shares during the period. Norges Bank acquired a new position in Amicus Therapeutics during the second quarter valued at $18,540,000. Qube Research & Technologies Ltd lifted its stake in Amicus Therapeutics by 223.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,466,911 shares of the biopharmaceutical company’s stock worth $19,865,000 after acquiring an additional 2,396,410 shares in the last quarter. State Street Corp boosted its position in Amicus Therapeutics by 21.5% during the 2nd quarter. State Street Corp now owns 11,568,097 shares of the biopharmaceutical company’s stock worth $66,285,000 after acquiring an additional 2,049,078 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in Amicus Therapeutics by 299.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,202,944 shares of the biopharmaceutical company’s stock valued at $12,623,000 after acquiring an additional 1,650,919 shares in the last quarter.

Amicus Therapeutics Price Performance

Shares of Amicus Therapeutics stock opened at $14.37 on Friday. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of -179.63 and a beta of 0.43. The stock has a 50-day simple moving average of $14.32 and a 200-day simple moving average of $11.17. Amicus Therapeutics, Inc. has a 52-week low of $5.51 and a 52-week high of $14.39. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.84 and a quick ratio of 1.88.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). Amicus Therapeutics had a positive return on equity of 4.15% and a negative net margin of 4.27%.The business had revenue of $185.21 million during the quarter, compared to the consensus estimate of $185.00 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, equities research analysts expect that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FOLD has been the topic of a number of research reports. Cantor Fitzgerald downgraded Amicus Therapeutics from an “overweight” rating to a “hold” rating and dropped their target price for the company from $21.00 to $14.50 in a report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday, December 29th. Needham & Company LLC lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, December 19th. Leerink Partners lowered shares of Amicus Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $17.00 to $14.50 in a research note on Monday, December 29th. Finally, Citigroup restated a “neutral” rating and set a $14.50 price target (down from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.39.

Insider Activity

In other news, CEO Bradley L. Campbell sold 22,500 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $14.35, for a total transaction of $322,875.00. Following the transaction, the chief executive officer owned 998,680 shares of the company’s stock, valued at approximately $14,331,058. This represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Michael Clark sold 25,642 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $14.17, for a total value of $363,347.14. Following the completion of the transaction, the insider directly owned 245,690 shares in the company, valued at $3,481,427.30. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 226,711 shares of company stock valued at $2,887,822. 2.20% of the stock is currently owned by corporate insiders.

Amicus Therapeutics Company Profile

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.