abrdn plc Raises Holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

abrdn plc boosted its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 9.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,808,792 shares of the biopharmaceutical company’s stock after buying an additional 150,179 shares during the quarter. abrdn plc owned approximately 0.61% of Amicus Therapeutics worth $19,318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of FOLD. Blue Trust Inc. boosted its position in shares of Amicus Therapeutics by 1,705.4% in the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 2,831 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Amicus Therapeutics during the 2nd quarter valued at about $89,000. Sage Capital Advisors llc purchased a new stake in Amicus Therapeutics during the second quarter valued at approximately $103,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 1,884 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Amicus Therapeutics in the second quarter worth about $138,000.

Amicus Therapeutics Stock Performance

FOLD opened at $11.42 on Friday. The company has a current ratio of 2.75, a quick ratio of 2.26 and a debt-to-equity ratio of 2.93. The firm’s 50-day moving average price is $11.16 and its 200 day moving average price is $10.57. Amicus Therapeutics, Inc. has a twelve month low of $9.02 and a twelve month high of $14.57. The firm has a market capitalization of $3.39 billion, a PE ratio of -29.28 and a beta of 0.69.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The business had revenue of $126.67 million during the quarter, compared to analyst estimates of $121.21 million. During the same period last year, the business posted ($0.15) earnings per share. The company’s quarterly revenue was up 34.0% on a year-over-year basis. As a group, sell-side analysts expect that Amicus Therapeutics, Inc. will post -0.06 EPS for the current fiscal year.

Insider Activity

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total transaction of $87,825.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $10,382,718.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

FOLD has been the subject of several recent analyst reports. Bank of America upped their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley lowered their price objective on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Jefferies Financial Group initiated coverage on Amicus Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. StockNews.com lowered Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.13.

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.