M&G PLC Takes Position in Amicus Therapeutics, Inc. $FOLD

M&G PLC bought a new stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,884,985 shares of the biopharmaceutical company’s stock, valued at approximately $11,310,000. M&G PLC owned approximately 0.61% of Amicus Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FOLD. Strs Ohio bought a new position in shares of Amicus Therapeutics during the 1st quarter valued at about $30,000. PNC Financial Services Group Inc. lifted its stake in Amicus Therapeutics by 211.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 3,497 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Amicus Therapeutics during the first quarter valued at approximately $53,000. CWM LLC boosted its holdings in Amicus Therapeutics by 395.9% during the second quarter. CWM LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 7,502 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Amicus Therapeutics in the second quarter worth approximately $64,000.

Amicus Therapeutics Stock Performance

FOLD stock opened at $9.42 on Thursday. The firm has a 50 day moving average of $8.39 and a two-hundred day moving average of $7.13. Amicus Therapeutics, Inc. has a 12 month low of $5.51 and a 12 month high of $10.66. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -78.49 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 data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a negative net margin of 6.67% and a negative return on equity of 5.07%. The business had revenue of $169.06 million during the quarter, compared to analyst estimates of $165.24 million. During the same quarter in the previous year, the business earned $0.10 EPS. Amicus Therapeutics’s quarterly revenue was up 19.5% compared to the same quarter last year. Amicus Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling at Amicus Therapeutics

In other Amicus Therapeutics news, insider David Michael Clark sold 25,643 shares of the company’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 transaction of $243,864.93. Following the completion of the sale, the insider owned 322,618 shares of the company’s stock, valued at $3,068,097.18. This represents a 7.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FOLD. Zacks Research upgraded Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. The Goldman Sachs Group increased their target price on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Wall Street Zen raised Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Needham & Company LLC raised Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have given 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.