Granite Investment Partners LLC Sells 97,656 Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Granite Investment Partners LLC lessened its stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 10.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 821,178 shares of the biopharmaceutical company’s stock after selling 97,656 shares during the quarter. Granite Investment Partners LLC owned approximately 0.28% of Amicus Therapeutics worth $8,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in Amicus Therapeutics in the 2nd quarter worth $89,000. Sage Capital Advisors llc purchased a new stake in shares of Amicus Therapeutics in the second quarter worth about $103,000. EntryPoint Capital LLC lifted its position in shares of Amicus Therapeutics by 278.8% in the first quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 9,729 shares in the last quarter. Old Well Partners LLC bought a new position in Amicus Therapeutics during the fourth quarter valued at approximately $180,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in Amicus Therapeutics during the 1st quarter valued at approximately $225,000.

Amicus Therapeutics Stock Up 0.8 %

Shares of NASDAQ FOLD opened at $11.00 on Friday. Amicus Therapeutics, Inc. has a 1 year low of $9.02 and a 1 year high of $14.57. The firm has a 50-day simple moving average of $11.01 and a two-hundred day simple moving average of $10.75. The company has a market cap of $3.26 billion, a P/E ratio of -22.45 and a beta of 0.69. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.75 and a quick ratio of 2.26.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $126.67 million during 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%. Amicus Therapeutics’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period last year, the company earned ($0.15) EPS. Research analysts anticipate that Amicus Therapeutics, Inc. will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Bradley L. Campbell sold 6,100 shares of Amicus Therapeutics stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $10.00, for a total transaction of $61,000.00. Following the completion of the sale, the chief executive officer now 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 link. In related news, CEO Bradley L. Campbell sold 6,100 shares of the stock in a transaction that occurred 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 owns 886,654 shares of the company’s stock, valued at $8,866,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total value of $87,825.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $10,382,718.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,100 shares of company stock valued at $226,375. 2.20% of the stock is currently 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.