M&G PLC Purchases Shares of 1,884,985 Amicus Therapeutics, Inc. $FOLD

M&G PLC acquired a new position in Amicus Therapeutics, Inc. (NASDAQ:FOLD) during the second quarter, Holdings Channel reports. The institutional investor acquired 1,884,985 shares of the biopharmaceutical company’s stock, valued at approximately $11,310,000.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Amicus Therapeutics by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 29,200,617 shares of the biopharmaceutical company’s stock valued at $238,277,000 after purchasing an additional 738,623 shares during the period. Redmile Group LLC lifted its holdings in shares of Amicus Therapeutics by 35.1% during the first quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company’s stock worth $77,795,000 after buying an additional 2,478,779 shares during the last quarter. Vestal Point Capital LP boosted its position in shares of Amicus Therapeutics by 27.6% in the first quarter. Vestal Point Capital LP now owns 4,275,000 shares of the biopharmaceutical company’s stock valued at $34,884,000 after acquiring an additional 925,000 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Amicus Therapeutics by 641.2% in the second quarter. Assenagon Asset Management S.A. now owns 3,533,854 shares of the biopharmaceutical company’s stock worth $20,249,000 after acquiring an additional 3,057,072 shares during the last quarter. Finally, Nuveen LLC bought a new position in Amicus Therapeutics during the first quarter worth $28,741,000.

Wall Street Analysts Forecast Growth

FOLD has been the subject of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Amicus Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. lifted their target price on Amicus Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. The Goldman Sachs Group upped their price target on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, Zacks Research raised Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Amicus Therapeutics Trading Up 1.1%

Shares of Amicus Therapeutics stock opened at $9.42 on Thursday. The company has a quick ratio of 2.29, a current ratio of 3.21 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $2.91 billion, a P/E ratio of -78.49 and a beta of 0.66. Amicus Therapeutics, Inc. has a 12-month low of $5.51 and a 12-month high of $10.66. The company has a 50-day simple moving average of $8.39 and a 200 day simple moving average of $7.13.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a negative return on equity of 5.07% and a negative net margin of 6.67%.The business had revenue of $169.06 million for the quarter, compared to the consensus estimate of $165.24 million. During the same period in the previous year, the business earned $0.10 EPS. Amicus Therapeutics’s revenue was up 19.5% compared to the same quarter last year. Amicus Therapeutics has set its FY 2025 guidance at EPS. Research analysts expect that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Amicus Therapeutics

In other Amicus Therapeutics news, insider David Michael Clark sold 25,643 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $9.51, for a total transaction of $243,864.93. Following the sale, the insider owned 322,618 shares of the company’s stock, valued at $3,068,097.18. This represents a 7.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by company insiders.

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.