Primecap Management Co. CA Trims Stock Holdings in Amicus Therapeutics, Inc. $FOLD

Primecap Management Co. CA lowered its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 13.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 796,100 shares of the biopharmaceutical company’s stock after selling 123,400 shares during the quarter. Primecap Management Co. CA’s holdings in Amicus Therapeutics were worth $4,562,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FOLD. Nuveen LLC purchased a new position in shares of Amicus Therapeutics in the first quarter worth about $28,741,000. Assenagon Asset Management S.A. increased its holdings in Amicus Therapeutics by 641.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,533,854 shares of the biopharmaceutical company’s stock worth $20,249,000 after buying an additional 3,057,072 shares during the period. Millennium Management LLC raised its position in Amicus Therapeutics by 635.1% during the 1st quarter. Millennium Management LLC now owns 3,359,389 shares of the biopharmaceutical company’s stock worth $27,413,000 after buying an additional 2,902,375 shares during the last quarter. Redmile Group LLC lifted its stake in Amicus Therapeutics by 35.1% during the 1st quarter. Redmile Group LLC now owns 9,533,669 shares of the biopharmaceutical company’s stock valued at $77,795,000 after acquiring an additional 2,478,779 shares during the period. Finally, M&G PLC acquired a new stake in Amicus Therapeutics during the 2nd quarter valued at approximately $11,310,000.

Amicus Therapeutics Stock Down 2.9%

Shares of NASDAQ FOLD opened at $9.45 on Friday. The company’s 50-day simple moving average is $8.58 and its 200-day simple moving average is $7.23. Amicus Therapeutics, Inc. has a 52-week low of $5.51 and a 52-week high of $10.35. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -78.74 and a beta of 0.66. The company has a quick ratio of 2.29, a current ratio of 3.21 and a debt-to-equity ratio of 1.92.

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

Insider Activity at Amicus Therapeutics

In other news, insider David Michael Clark sold 25,643 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $9.51, for a total value of $243,864.93. Following the transaction, the insider owned 322,618 shares in the company, valued at $3,068,097.18. This trade represents a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Wednesday. Zacks Research raised Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. The Goldman Sachs Group lifted their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Needham & Company LLC upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Thursday, September 18th. Finally, Wall Street Zen raised Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Amicus Therapeutics has an average rating of “Moderate Buy” and an average target price of $16.57.

About Amicus Therapeutics

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.