Schwab Charles Investment Management Inc. lifted its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 989,006 shares of the biopharmaceutical company’s stock after acquiring an additional 77,388 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Amicus Therapeutics were worth $15,449,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Exane Derivatives acquired a new stake in shares of Amicus Therapeutics during the second quarter valued at $137,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Amicus Therapeutics during the second quarter valued at $179,000. Palisade Capital Management LLC NJ acquired a new stake in shares of Amicus Therapeutics during the first quarter valued at $211,000. TCW Group Inc. acquired a new stake in shares of Amicus Therapeutics during the second quarter valued at $245,000. Finally, Strs Ohio boosted its stake in shares of Amicus Therapeutics by 32.2% during the second quarter. Strs Ohio now owns 16,000 shares of the biopharmaceutical company’s stock valued at $249,000 after acquiring an additional 3,900 shares during the last quarter.
A number of research firms recently commented on FOLD. BidaskClub lowered Amicus Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Zacks Investment Research raised Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, July 10th. ValuEngine lowered Amicus Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Finally, Chardan Capital lowered Amicus Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $15.00 in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.43.
Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.33). Amicus Therapeutics had a negative return on equity of 53.45% and a negative net margin of 460.04%. The firm had revenue of $21.31 million for the quarter, compared to analyst estimates of $18.92 million. sell-side analysts expect that Amicus Therapeutics, Inc. will post -1.19 earnings per share for the current year.
In other Amicus Therapeutics news, SVP Kurt J. Andrews sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $15.63, for a total value of $78,150.00. Following the sale, the senior vice president now directly owns 40,469 shares of the company’s stock, valued at approximately $632,530.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Life Sciences Maste Perceptive purchased 500,000 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was acquired at an average cost of $12.00 per share, for a total transaction of $6,000,000.00. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by company insiders.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.
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