AlphaCentric Advisors LLC Has $2.19 Million Stock Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

AlphaCentric Advisors LLC boosted its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,000 shares of the biopharmaceutical company’s stock after buying an additional 2,500 shares during the quarter. Amicus Therapeutics makes up about 1.6% of AlphaCentric Advisors LLC’s holdings, making the stock its 16th biggest position. AlphaCentric Advisors LLC owned about 0.07% of Amicus Therapeutics worth $2,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in shares of Amicus Therapeutics during the 2nd quarter worth about $8,386,000. M&G Plc grew its holdings in Amicus Therapeutics by 12.4% during the second quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after purchasing an additional 82,728 shares during the period. Edgestream Partners L.P. lifted its stake in Amicus Therapeutics by 1,290.4% in the first quarter. Edgestream Partners L.P. now owns 270,164 shares of the biopharmaceutical company’s stock valued at $3,183,000 after buying an additional 250,734 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Amicus Therapeutics by 7.8% in 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 in the last quarter. Finally, Fiera Capital Corp lifted its position in shares of Amicus Therapeutics by 1.1% in the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock worth $52,382,000 after purchasing an additional 58,113 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FOLD. Morgan Stanley lowered their target price on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 target price on shares of Amicus Therapeutics in a report on Friday, September 20th. Bank of America boosted their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered their target price on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Insider Buying and Selling

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $9,398,532.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 22,500 shares of company stock valued at $253,275 over the last quarter. 2.20% of the stock is owned by company insiders.

Amicus Therapeutics Price Performance

FOLD stock opened at $11.33 on Tuesday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75. The company’s 50-day simple moving average is $11.15 and its 200 day simple moving average is $10.59. Amicus Therapeutics, Inc. has a 52 week low of $9.02 and a 52 week high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The business had revenue of $126.67 million during the quarter, compared to analysts’ expectations of $121.21 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. Amicus Therapeutics’s revenue was up 34.0% compared to the same quarter last year. Sell-side analysts forecast that Amicus Therapeutics, Inc. will post -0.06 earnings per share for the current fiscal year.

Amicus Therapeutics 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.