FOLD Amicus Therapeutics Inc

BioMarin Pharmaceutical Inc. (BMRN) is acquiring Amicus Therapeutics, Inc. (FOLD) for $14.50 per share, a move expected to be beneficial and accretive for both companies, potentially doubling Amicus's market reach. While BMRN's Voxzogo growth is decelerating and Roctavian is slated for divestment, the acquisition is revenue-accretive, with a 27% upside and a compelling call option in DMX-200. Conversely, FOLD is rated a Hold due to its current valuation and the anchoring effect of BioMarin's offer.

Rice Hall James & Associates LLC significantly increased its stake in Amicus Therapeutics (NASDAQ:FOLD) by 24.4% in the third quarter, now owning over 3.4 million shares worth $27.07 million. Despite recent insider selling by the CEO and other insiders, Amicus Therapeutics exceeded Q3 expectations with an EPS of $0.17 and revenue of $169.06 million, a 19.5% year-over-year increase. Analysts, however, remain mixed on the stock, holding a consensus "Hold" rating with an average target price of $15.81.

Kahn Swick & Foti, LLC (KSF), led by former Louisiana Attorney General Charles C. Foti, Jr., Esq., is investigating the proposed sale of Amicus Therapeutics, Inc. (NasdaqGM: FOLD) to BioMarin Pharmaceutical Inc. The law firm is examining whether the cash consideration of $14.50 per share for Amicus shareholders and the process leading to this sale are adequate, or if the Company is undervalued. KSF encourages Amicus shareholders concerned about the sale to contact them to discuss their legal rights.

Voya Investment Management LLC reduced its stake in Amicus Therapeutics by 14.4%, selling 90,062 shares and ending the quarter with 535,684 shares valued at $4.22 million. Insiders have also been net sellers, with CEO Bradley L. Campbell and Jeff Castelli selling a combined 154,084 shares totaling over $1.6 million. Despite the institutional selling, Amicus Therapeutics beat quarterly earnings estimates and holds a consensus "Hold" rating with a target price of $15.81.

Amicus Therapeutics Inc (NYSE: FOLD) has seen a 7.13% rise in its short interest, with 19.31 million shares sold short, representing 6.31% of available shares. This increase suggests a growing bearish sentiment among investors, although the company's short interest is still lower than its peer group average of 15.28%. Traders would need 3.72 days to cover their short positions on average.

John F. Crowley, CEO of Biotechnology Innovation Organization, reflected on the acquisition of Amicus Therapeutics by BioMarin Pharmaceutical Inc. for $4.8 billion. Crowley, who led Amicus from 2005-2024, highlighted the company's journey of perseverance, scientific innovation, and dedication to patients, leading to the development of two global medicines for Pompe and Fabry disease despite numerous challenges. He emphasized Amicus's patient-focused mission and expressed confidence in BioMarin to continue this legacy.