Amicus Therapeutics’ (FOLD) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Amicus Therapeutics (NASDAQ:FOLD) in a research report released on Thursday morning,Benzinga reports.

Other equities research analysts also recently issued research reports about the company. Bank of America upped their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price target on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price objective on shares of Amicus Therapeutics in a report on Friday, September 20th. Jefferies Financial Group assumed coverage on Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, StockNews.com cut Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amicus Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $17.50.

Amicus Therapeutics Price Performance

Shares of FOLD opened at $10.99 on Thursday. The company has a market cap of $3.26 billion, a P/E ratio of -32.32 and a beta of 0.68. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93. The firm’s 50 day moving average price is $11.13 and its 200 day moving average price is $10.61.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $126.67 million for the quarter, compared to analyst estimates of $121.21 million. Amicus Therapeutics had a negative return on equity of 17.03% and a negative net margin of 21.21%. The company’s revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) earnings per share. On average, research analysts forecast that Amicus Therapeutics will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total transaction of $87,825.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $10,382,718.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total transaction of $87,825.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,382,718.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bradley L. Campbell sold 7,901 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total transaction of $98,762.50. Following the completion of the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $11,083,175. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,401 shares of company stock valued at $352,038 in the last three months. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Duality Advisers LP grew its stake in shares of Amicus Therapeutics by 40.3% in the 1st quarter. Duality Advisers LP now owns 37,555 shares of the biopharmaceutical company’s stock valued at $442,000 after purchasing an additional 10,792 shares during the last quarter. SG Americas Securities LLC acquired a new position in Amicus Therapeutics in the 1st quarter valued at $291,000. Swiss National Bank increased its stake in Amicus Therapeutics by 2.3% in the 1st quarter. Swiss National Bank now owns 434,300 shares of the biopharmaceutical company’s stock valued at $5,116,000 after buying an additional 9,900 shares during the period. Sei Investments Co. raised its position in Amicus Therapeutics by 9.5% during the 1st quarter. Sei Investments Co. now owns 222,715 shares of the biopharmaceutical company’s stock worth $2,624,000 after buying an additional 19,366 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Amicus Therapeutics by 12.4% in the 1st quarter. Inspire Investing LLC now owns 31,094 shares of the biopharmaceutical company’s stock worth $366,000 after acquiring an additional 3,422 shares during the period.

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.