Redmile Group LLC Has $156.17 Million Stock Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

by · The Markets Daily

Redmile Group LLC trimmed its position in Amicus Therapeutics, Inc. (NASDAQ:FOLDFree Report) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,257,286 shares of the biopharmaceutical company’s stock after selling 1,571,035 shares during the quarter. Amicus Therapeutics accounts for 5.7% of Redmile Group LLC’s holdings, making the stock its 2nd largest holding. Redmile Group LLC owned 4.48% of Amicus Therapeutics worth $156,171,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Amicus Therapeutics by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,389,361 shares of the biopharmaceutical company’s stock valued at $16,368,000 after purchasing an additional 12,003 shares during the last quarter. EntryPoint Capital LLC increased its position in Amicus Therapeutics by 278.8% in the 1st quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 9,729 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 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 valued at $25,640,000 after acquiring an additional 1,858,100 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Amicus Therapeutics by 7.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 100,538 shares of the biopharmaceutical company’s stock worth $1,183,000 after purchasing an additional 7,304 shares during the period. Finally, American International Group Inc. grew its stake in shares of Amicus Therapeutics by 1.3% in the first quarter. American International Group Inc. now owns 143,034 shares of the biopharmaceutical company’s stock worth $1,685,000 after purchasing an additional 1,785 shares during the last quarter.

Amicus Therapeutics Trading Down 0.7 %

Shares of Amicus Therapeutics stock traded down $0.07 on Monday, reaching $10.11. 3,829,157 shares of the company’s stock were exchanged, compared to its average volume of 2,816,233. The company has a market capitalization of $2.99 billion, a P/E ratio of -20.63 and a beta of 0.71. Amicus Therapeutics, Inc. has a 52 week low of $9.02 and a 52 week high of $14.57. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.61 and a current ratio of 3.03. The firm’s 50-day moving average is $10.09 and its two-hundred day moving average is $11.21.

Amicus Therapeutics (NASDAQ:FOLDGet Free Report) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. Amicus Therapeutics had a negative net margin of 34.73% and a negative return on equity of 77.08%. The business had revenue of $110.40 million for the quarter, compared to analyst estimates of $111.19 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. Amicus Therapeutics’s revenue was up 27.9% on a year-over-year basis. Sell-side analysts predict that Amicus Therapeutics, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Guggenheim raised Amicus Therapeutics from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Tuesday, May 14th. Wells Fargo & Company assumed coverage on Amicus Therapeutics in a research report on Thursday, May 30th. They set an “overweight” rating and a $18.00 price objective for the company. UBS Group reduced their target price on Amicus Therapeutics from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Morgan Stanley lowered their price target on shares of Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Amicus Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $17.57.

Check Out Our Latest Report on FOLD

Insider Activity at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.07, for a total transaction of $75,525.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,928,605.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $10.07, for a total transaction of $75,525.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $8,928,605.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 directly owns 886,654 shares of the company’s stock, valued at $8,866,540. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Amicus Therapeutics Company Profile

(Free Report)

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.

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