JPMorgan Chase & Co. Has $16.68 Million Stock Position in Amicus Therapeutics, Inc. $FOLD

JPMorgan Chase & Co. reduced its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,116,166 shares of the biopharmaceutical company’s stock after selling 94,105 shares during the quarter. JPMorgan Chase & Co. owned 0.69% of Amicus Therapeutics worth $16,675,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FOLD. Abich Financial Wealth Management LLC bought a new position in shares of Amicus Therapeutics during the 3rd quarter worth about $85,000. Envestnet Asset Management Inc. grew its position in Amicus Therapeutics by 9.9% during the third quarter. Envestnet Asset Management Inc. now owns 70,600 shares of the biopharmaceutical company’s stock worth $556,000 after buying an additional 6,344 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Amicus Therapeutics by 0.3% during the third quarter. Allianz Asset Management GmbH now owns 389,109 shares of the biopharmaceutical company’s stock valued at $3,066,000 after acquiring an additional 1,333 shares during the period. State of Wyoming raised its holdings in Amicus Therapeutics by 1,034.9% in the 3rd quarter. State of Wyoming now owns 10,078 shares of the biopharmaceutical company’s stock valued at $79,000 after acquiring an additional 9,190 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Amicus Therapeutics by 1,229.5% in the 3rd quarter. Principal Financial Group Inc. now owns 263,325 shares of the biopharmaceutical company’s stock worth $2,075,000 after acquiring an additional 243,519 shares during the period.

Amicus Therapeutics Stock Down 0.1%

Shares of NASDAQ FOLD opened at $14.34 on Wednesday. Amicus Therapeutics, Inc. has a 52-week low of $5.51 and a 52-week high of $14.38. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.88 and a current ratio of 2.84. The business has a fifty day moving average of $14.30 and a two-hundred day moving average of $10.81. The stock has a market cap of $4.50 billion, a PE ratio of -179.25 and a beta of 0.43.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results 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 firm had revenue of $185.21 million for the quarter, compared to analyst estimates of $185.00 million. During the same quarter last year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, equities research analysts expect that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on FOLD. Guggenheim cut Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. TD Cowen lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 price target on the stock. in a report on Monday, December 22nd. Zacks Research downgraded shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday, December 29th. Finally, Citigroup reissued a “neutral” rating and issued a $14.50 target price (down from $17.00) on shares of Amicus Therapeutics in a research note on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.39.

Insider Activity at Amicus Therapeutics

In related news, insider David Michael Clark sold 25,643 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $11.00, for a total transaction of $282,073.00. Following the sale, the insider directly owned 271,332 shares in the company, valued at $2,984,652. This represents a 8.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bradley L. Campbell sold 77,926 shares of Amicus Therapeutics stock in a transaction on Monday, December 15th. The shares were sold at an average price of $10.86, for a total value of $846,276.36. Following the completion of the transaction, the chief executive officer owned 1,129,782 shares of the company’s stock, valued at approximately $12,269,432.52. The trade was a 6.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 204,211 shares of company stock worth $2,564,947 over the last three months. 2.20% of the stock is owned by company insiders.

About Amicus Therapeutics

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.