On September 10, 2023, it was reported that Healthcare of Ontario Pension Plan Trust Fund had reduced its holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 6.2% during the first quarter of the year. According to their 13F filing with the Securities and Exchange Commission, the firm sold 119,300 shares of the biopharmaceutical company’s stock, resulting in a total ownership of 1,819,500 shares. At the end of the quarter, Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.64% of Amicus Therapeutics, valued at $20,178,000.
Amicus Therapeutics recently released its quarterly earnings data on August 8th. The biopharmaceutical company reported an earnings per share (EPS) of ($0.15) for the quarter, which fell short of analysts’ consensus estimates by ($0.03). Despite this setback, Amicus Therapeutics generated $94.50 million in revenue during the quarter—surpassing analyst expectations of $89.57 million.
Interestingly, Amicus Therapeutics experienced a negative net margin of 52.85% and a negative return on equity of 157.79%. These figures indicate some challenges faced by the company in maintaining profitability and generating returns for its shareholders.
Equities research analysts predict that Amicus Therapeutics will post an EPS of -0.43 for the current fiscal year.
The decision made by Healthcare of Ontario Pension Plan Trust Fund to reduce its position in Amicus Therapeutics suggests a lack of confidence in the company’s performance and future prospects. This action may prompt other investors to reassess their own investment strategies regarding this particular stock.
As with any investment analysis or financial report, it is crucial to consider multiple factors before making any investment decisions regarding Amicus Therapeutics or any other company’s stock on the market.
Hedge Funds Change Positions in Amicus Therapeutics: Potential Growth Opportunities and Recent Market Sentiment
Amicus Therapeutics, a biopharmaceutical company, has recently seen some changes in its positions among various hedge funds. This has sparked curiosity and speculation within the financial industry. Seven Eight Capital LP, Renaissance Technologies LLC, Systematic Financial Management LP, Sectoral Asset Management Inc., and BNP Paribas Arbitrage SNC have all made notable investments in Amicus Therapeutics.
Seven Eight Capital LP purchased a new stake worth $116,000 in shares of Amicus Therapeutics in the first quarter of this year. Similarly, Renaissance Technologies LLC made a significant investment of $4,314,000 during the same period. Systematic Financial Management LP joined in by acquiring a stake worth $129,000.
Sectoral Asset Management Inc., an established player in the investment world, took its holdings in Amicus Therapeutics up by 2.4% during the first quarter. The firm now owns 519,982 shares valued at $5,767,000 after adding an additional 12,300 shares to its portfolio.
BNP Paribas Arbitrage SNC also expressed confidence in Amicus Therapeutics by increasing its holdings by 101.5%. The firm now owns 283,781 shares valued at $3,147,000 after buying an extra 142,974 shares.
While these moves have generated buzz in the financial community regarding the future trajectory of Amicus Therapeutics’ stock performance and growth potential within the biopharmaceutical market landscape; it’s important to consider that investing involves risks and every decision should be based on careful analysis and due diligence.
Furthermore, recent news from StockNews.com suggests that sentiment towards Amicus Therapeutics may not be as positive as before. The company’s rating was downgraded from “buy” to “hold” on Friday September 1st. Despite this change in rating and recommendation by StockNews.com analysts; three investment analysts still maintain a hold rating on the stock, while another three have issued buy ratings. According to data compiled by Bloomberg, Amicus Therapeutics currently holds a consensus rating of “Moderate Buy” and a consensus target price of $15.20.
In other developments, CAO Samantha Prout has made some notable stock sales in recent weeks. On Wednesday, August 9th, she sold 36,909 shares at an average price of $14.01 per share, resulting in a total value of $517,095.09. Following this transaction, Prout now holds 137,003 shares directly, with an estimated value of $1,919,412.03. These stock sales have been disclosed through filings submitted to the Securities & Exchange Commission.
This isn’t the first time Samantha Prout has made such transactions; she also sold 36,909 shares on the same day for a total amount of $517,095.09. After the sale was completed, Prout now owns 137,003 shares valued at $1,919,412.03.
CEO Bradley L. Campbell has also been involved in stock sales activities. On Tuesday, August 1st he sold 20,000 shares at an average price of $13.39 per share resulting in a total value of $267,800. Following this sale, Campbell now directly holds 798,554 shares valued at $10,692 ,638 .06.
According to recent disclosures submitted to the Securities & Exchange Commission (SEC), insiders have collectively sold 124 ,466 shares valued at approximately $1 ,654 ,752 within the last three months. This translates to insiders owning around 2 .10 % of company’s stock.
On Friday September 10th , Amicus Therapeutics’ stock opened with a price of $12 .57 on NASDAQ FOLD . Over the past fifty days , its moving average has been recorded at $12.97 while its two hundred day moving average stands at $12.25. The company has a debt-to-equity ratio of 3 .53 , a current ratio of 2 .72, and a quick ratio of 2.40.
With regard to its market capitalization, Amicus Therapeutics is currently valued at $3.61 billion. The company’s stock exhibits a negative P/E ratio of -19.64 and has a beta of 0.86 suggesting that it is less volatile than the overall market.
Amicus Therapeutics’ share price has fluctuated between $9 .10 and $14 .10 in the past year, demonstrating some degree of volatility in the market place amid various developments within the biopharmaceutical sector.
In conclusion, Amicus Therapeutics has witnessed changes in its positions among hedge funds, which suggests that investors see potential in the company’s growth prospects. However, it is important to note that these investments come with risks and should be assessed diligently before making any financial decisions. Recent news from StockNews.com highlights that sentiment around Amicus Therapeutics may not be as positive as previously thought with the downgrade from “buy” to “hold.” CAO Samantha Prout and CEO Bradley L. Campbell have also made significant stock