Principal Financial Group Inc. Grows Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Principal Financial Group Inc. increased its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 1.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 240,813 shares of the biopharmaceutical company’s stock after buying an additional 2,737 shares during the quarter. Principal Financial Group Inc.’s holdings in Amicus Therapeutics were worth $2,389,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Amicus Therapeutics by 6.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,471 shares of the biopharmaceutical company’s stock worth $501,000 after buying an additional 2,918 shares during the last quarter. Legato Capital Management LLC grew its stake in Amicus Therapeutics by 864.0% during the 2nd quarter. Legato Capital Management LLC now owns 101,703 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 91,153 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Amicus Therapeutics by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,245,115 shares of the biopharmaceutical company’s stock worth $12,352,000 after buying an additional 82,065 shares during the last quarter. AlphaCentric Advisors LLC grew its stake in Amicus Therapeutics by 15.7% during the 2nd quarter. AlphaCentric Advisors LLC now owns 202,500 shares of the biopharmaceutical company’s stock worth $2,009,000 after buying an additional 27,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Amicus Therapeutics during the 2nd quarter worth approximately $8,386,000.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total value of $87,825.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $10,382,718.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total value of $87,825.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $10,382,718.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Bradley L. Campbell sold 6,100 shares of Amicus Therapeutics stock in a transaction on Friday, July 5th. The shares were sold at an average price of $10.00, for a total value of $61,000.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $8,866,540. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,100 shares of company stock valued at $226,375. Corporate insiders own 2.20% of the company’s stock.

Amicus Therapeutics Stock Up 0.2 %

FOLD opened at $11.27 on Thursday. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.75 and a quick ratio of 2.26. The business has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $10.82. The stock has a market capitalization of $3.34 billion, a P/E ratio of -23.00 and a beta of 0.69. Amicus Therapeutics, Inc. has a 12 month low of $9.02 and a 12 month high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $126.67 million during the quarter, compared to analysts’ expectations of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. Amicus Therapeutics’s revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) earnings per share. On average, equities analysts anticipate that Amicus Therapeutics, Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FOLD. JPMorgan Chase & Co. dropped their price target on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Wells Fargo & Company initiated coverage on Amicus Therapeutics in a research note on Thursday, May 30th. They issued an “overweight” rating and a $18.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $17.25.

Amicus Therapeutics 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.