DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $111,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Princeton Alpha Management LP bought a new position in Amicus Therapeutics during the first quarter valued at $106,000. Creative Planning boosted its position in shares of Amicus Therapeutics by 56.2% in the first quarter. Creative Planning now owns 16,400 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 5,900 shares during the last quarter. Rockefeller Financial Services Inc. acquired a new position in shares of Amicus Therapeutics during the first quarter worth approximately $136,000. Aperio Group LLC boosted its position in shares of Amicus Therapeutics by 13.5% in the second quarter. Aperio Group LLC now owns 13,986 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 1,663 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Amicus Therapeutics by 1.8% in the first quarter. Principal Financial Group Inc. now owns 26,883 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 487 shares during the last quarter.
Shares of Amicus Therapeutics, Inc. (FOLD) traded up 1.79% on Friday, hitting $12.51. 3,424,906 shares of the stock traded hands. The firm has a 50 day moving average price of $12.55 and a 200 day moving average price of $8.75. Amicus Therapeutics, Inc. has a 52-week low of $4.41 and a 52-week high of $14.05. The firm’s market cap is $2.06 billion.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. The business had revenue of $7.16 million for the quarter, compared to the consensus estimate of $6.96 million. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. During the same quarter in the prior year, the company earned ($0.40) EPS. On average, equities analysts forecast that Amicus Therapeutics, Inc. will post ($1.38) EPS for the current year.
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A number of brokerages have commented on FOLD. BidaskClub upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday. Cowen and Company reiterated a “buy” rating and set a $16.00 price target on shares of Amicus Therapeutics in a research report on Monday. Chardan Capital increased their price target on shares of Amicus Therapeutics from $12.50 to $17.50 and gave the company a “buy” rating in a research report on Thursday, August 10th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of Amicus Therapeutics in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $14.58.
In related news, insider Jay Barth sold 30,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $10.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider now directly owns 64,184 shares in the company, valued at approximately $641,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were bought at an average price of $12.25 per share, with a total value of $18,375,000.00. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
About Amicus Therapeutics
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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