Pictet Asset Management Holding SA Trims Stake in Amicus Therapeutics, Inc. $FOLD

Pictet Asset Management Holding SA lessened its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 70.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,994,855 shares of the biopharmaceutical company’s stock after selling 4,793,309 shares during the quarter. Pictet Asset Management Holding SA owned about 0.64% of Amicus Therapeutics worth $28,426,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Amicus Therapeutics by 7.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,703,577 shares of the biopharmaceutical company’s stock valued at $22,061,000 after acquiring an additional 194,213 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Amicus Therapeutics by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,072,474 shares of the biopharmaceutical company’s stock worth $8,751,000 after purchasing an additional 113,803 shares in the last quarter. Intech Investment Management LLC increased its position in Amicus Therapeutics by 37.1% during the 1st quarter. Intech Investment Management LLC now owns 170,922 shares of the biopharmaceutical company’s stock worth $1,395,000 after purchasing an additional 46,218 shares in the last quarter. Strs Ohio acquired a new position in Amicus Therapeutics in the 1st quarter valued at about $30,000. Finally, Cetera Investment Advisers acquired a new position in Amicus Therapeutics in the 2nd quarter valued at about $79,000.

Insider Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 22,500 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $14.35, for a total transaction of $322,875.00. Following the completion of the transaction, the chief executive officer owned 998,680 shares of the company’s stock, valued at approximately $14,331,058. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FOLD. Guggenheim cut shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Friday, March 27th. Zacks Research downgraded shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Jefferies Financial Group restated a “hold” rating and set a $14.50 target price (down from $16.00) on shares of Amicus Therapeutics in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Amicus Therapeutics currently has an average rating of “Hold” and an average target price of $15.39.

Amicus Therapeutics Stock Performance

NASDAQ FOLD opened at $14.49 on Friday. The business’s 50-day moving average price is $14.42 and its 200 day moving average price is $12.66. The company has a current ratio of 2.84, a quick ratio of 1.88 and a debt-to-equity ratio of 1.43. Amicus Therapeutics, Inc. has a twelve month low of $5.51 and a twelve month high of $14.50. The company has a market capitalization of $4.55 billion, a PE ratio of -181.13 and a beta of 0.48.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings data on Friday, February 20th. The biopharmaceutical company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The company had revenue of $185.21 million for the quarter, compared to analyst estimates of $185.00 million. Amicus Therapeutics had a negative net margin of 4.27% and a positive return on equity of 4.15%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. On average, research analysts predict that Amicus Therapeutics, Inc. will post 0.43 earnings per share for the current year.

Amicus Therapeutics Company 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.