Massachusetts Financial Services Co. MA Increases Holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Massachusetts Financial Services Co. MA lifted its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 14.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,020,536 shares of the biopharmaceutical company’s stock after acquiring an additional 378,999 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.02% of Amicus Therapeutics worth $29,964,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Amicus Therapeutics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock valued at $404,308,000 after buying an additional 1,360,613 shares in the last quarter. Norges Bank purchased a new stake in Amicus Therapeutics in the 4th quarter valued at approximately $35,915,000. Assenagon Asset Management S.A. purchased a new stake in Amicus Therapeutics in the 2nd quarter valued at approximately $8,386,000. UBS Group AG lifted its stake in Amicus Therapeutics by 58.1% in the 4th quarter. UBS Group AG now owns 824,708 shares of the biopharmaceutical company’s stock valued at $11,703,000 after buying an additional 303,038 shares in the last quarter. Finally, M&G Plc lifted its stake in Amicus Therapeutics by 12.4% in the 2nd quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after buying an additional 82,728 shares in the last quarter.

Amicus Therapeutics Trading Up 2.6 %

FOLD stock opened at $11.29 on Friday. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -23.04 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 $11.02 and a 200-day simple moving average of $10.75. Amicus Therapeutics, Inc. has a 52 week low of $9.02 and a 52 week high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $126.67 million during the quarter, compared to the consensus estimate of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period in the prior year, the firm 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 equities research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Amicus Therapeutics in a research note on Thursday, May 30th. They issued an “overweight” rating and a $18.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Friday, August 9th. Jefferies Financial Group assumed coverage on Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price target on shares of Amicus Therapeutics in a report on Friday. Finally, JPMorgan Chase & Co. cut their price target on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.00.

Insider Activity at Amicus Therapeutics

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

About Amicus Therapeutics

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.