abrdn plc Boosts Stock Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

abrdn plc lifted its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,808,792 shares of the biopharmaceutical company's stock after purchasing an additional 150,179 shares during the quarter. abrdn plc owned about 0.61% of Amicus Therapeutics worth $19,318,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Amicus Therapeutics by 1,705.4% during the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 2,831 shares in the last quarter. Headlands Technologies LLC bought a new stake in Amicus Therapeutics in the 2nd quarter worth $89,000. Sage Capital Advisors llc bought a new position in shares of Amicus Therapeutics during the second quarter valued at about $103,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Amicus Therapeutics by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company's stock worth $115,000 after buying an additional 1,884 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Amicus Therapeutics in the second quarter worth $138,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FOLD shares. Cantor Fitzgerald restated an "overweight" rating and issued a $20.00 price objective on shares of Amicus Therapeutics in a report on Friday, September 20th. StockNews.com cut shares of Amicus Therapeutics from a "buy" rating to a "hold" rating in a research note on Thursday. Morgan Stanley decreased their target price on shares of Amicus Therapeutics from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, October 11th. JPMorgan Chase & Co. cut their price target on shares of Amicus Therapeutics from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.13.

Amicus Therapeutics Stock Performance

Shares of FOLD stock traded up $0.05 on Friday, reaching $11.47. The stock had a trading volume of 2,303,231 shares, compared to its average volume of 2,713,779. The stock has a market cap of $3.40 billion, a P/E ratio of -29.41 and a beta of 0.69. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75. Amicus Therapeutics, Inc. has a 1 year low of $9.02 and a 1 year high of $14.57. The company has a 50 day simple moving average of $11.15 and a 200 day simple moving average of $10.59.

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The business had revenue of $126.67 million during the quarter, compared to analysts' expectations of $121.21 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The firm's revenue was up 34.0% on a year-over-year basis. Equities research analysts expect that Amicus Therapeutics, Inc. will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company's stock, valued at $9,398,532.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.20% of the company's stock.

Amicus Therapeutics Company 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.