Nordea Investment Management AB Makes New $7.84 Million Investment in Amicus Therapeutics, Inc. $FOLD

Nordea Investment Management AB acquired a new stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD) during the third quarter, Holdings Channel.com reports. The firm acquired 997,780 shares of the biopharmaceutical company’s stock, valued at approximately $7,843,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Osaic Holdings Inc. increased its holdings in Amicus Therapeutics by 450.1% in the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 3,358 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Amicus Therapeutics by 472.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 3,677 shares during the period. Strs Ohio bought a new stake in shares of Amicus Therapeutics in the 1st quarter valued at $30,000. CWM LLC lifted its position in shares of Amicus Therapeutics by 395.9% during the 2nd quarter. CWM LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 7,502 shares during the period. Finally, Inceptionr LLC bought a new position in Amicus Therapeutics during the second quarter worth $61,000.

Insider Buying and Selling

In related news, insider David Michael Clark sold 25,643 shares of the firm’s 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 transaction, the insider directly owned 322,618 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeff Castelli sold 76,158 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $10.16, for a total transaction of $773,765.28. Following the transaction, the insider owned 439,318 shares in the company, valued at approximately $4,463,470.88. This trade represents a 14.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 345,450 shares of company stock valued at $3,657,000 in the last 90 days. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Leerink Partners downgraded shares of Amicus Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.00 to $14.50 in a research note on Monday, December 29th. Guggenheim downgraded Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. The Goldman Sachs Group upped their price target on Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.67.

Amicus Therapeutics Price Performance

FOLD stock opened at $14.33 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 2.09 and a current ratio of 2.99. The business has a 50-day simple moving average of $11.73 and a two-hundred day simple moving average of $8.98. The company has a market capitalization of $4.42 billion, a P/E ratio of -358.16 and a beta of 0.42. Amicus Therapeutics, Inc. has a 52-week low of $5.51 and a 52-week high of $14.38.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data 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 positive return on equity of 6.95% and a negative net margin of 2.35%.The firm had revenue of $169.06 million during the quarter, compared to the consensus estimate of $165.24 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Research analysts expect that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

About Amicus Therapeutics

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.