JPMorgan Chase & Co. Reduces Holdings in Amicus Therapeutics, Inc. $FOLD

JPMorgan Chase & Co. lowered its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,116,166 shares of the biopharmaceutical company’s stock after selling 94,105 shares during the quarter. JPMorgan Chase & Co.’s holdings in Amicus Therapeutics were worth $16,675,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Allworth Financial LP increased its stake in Amicus Therapeutics by 36.3% in the 3rd quarter. Allworth Financial LP now owns 4,678 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 1,246 shares during the period. Allianz Asset Management GmbH boosted its position in Amicus Therapeutics by 0.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 389,109 shares of the biopharmaceutical company’s stock valued at $3,066,000 after buying an additional 1,333 shares during the period. Van ECK Associates Corp grew its stake in Amicus Therapeutics by 35.1% in the 3rd quarter. Van ECK Associates Corp now owns 5,638 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 1,466 shares in the last quarter. Parallel Advisors LLC grew its stake in Amicus Therapeutics by 40.2% in the 3rd quarter. Parallel Advisors LLC now owns 5,756 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 1,649 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Amicus Therapeutics by 1.5% during the third quarter. Gotham Asset Management LLC now owns 138,523 shares of the biopharmaceutical company’s stock worth $1,092,000 after acquiring an additional 1,987 shares during the period.

Amicus Therapeutics Trading Up 0.1%

NASDAQ:FOLD opened at $14.43 on Thursday. Amicus Therapeutics, Inc. has a 52 week low of $5.51 and a 52 week high of $14.43. The firm has a 50 day moving average of $14.33 and a 200 day moving average of $11.54. The company has a quick ratio of 1.88, a current ratio of 2.84 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -180.38 and a beta of 0.43.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $185.21 million during the quarter, compared to analysts’ expectations of $185.00 million. Amicus Therapeutics had a positive return on equity of 4.15% and a negative net margin of 4.27%.Amicus Therapeutics’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, sell-side analysts anticipate that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on FOLD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 29th. Guggenheim downgraded Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Leerink Partners lowered Amicus Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $17.00 to $14.50 in a research report on Monday, December 29th. Cantor Fitzgerald cut Amicus Therapeutics from an “overweight” rating to a “hold” rating and lowered their target price for the stock from $21.00 to $14.50 in a report on Friday, December 19th. Finally, TD Cowen downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 price target on the stock. in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.39.

Insider Buying and Selling at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 22,500 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $14.35, for a total transaction of $322,875.00. Following the transaction, the chief executive officer directly owned 998,680 shares in the company, valued at $14,331,058. The trade was a 2.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is owned by insiders.

Amicus Therapeutics Profile

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.