Needham & Company LLC Reaffirms “Hold” Rating for Amicus Therapeutics (NASDAQ:FOLD)

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

Other equities analysts have also issued reports about the company. StockNews.com cut Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Amicus Therapeutics in a research report on Friday, September 20th. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective on the stock. Bank of America increased their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.13.

Amicus Therapeutics Price Performance

Shares of FOLD opened at $11.24 on Thursday. The company has a current ratio of 2.75, a quick ratio of 2.26 and a debt-to-equity ratio of 2.93. The stock has a market cap of $3.33 billion, a P/E ratio of -28.82 and a beta of 0.68. The stock’s 50-day moving average price is $11.15 and its two-hundred day moving average price is $10.61. Amicus Therapeutics has a 1 year low of $9.02 and a 1 year high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The firm had revenue of $126.67 million during the quarter, compared to the consensus estimate of $121.21 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was up 34.0% on a year-over-year basis. On average, equities analysts predict that Amicus Therapeutics will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at $9,398,532.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 22,500 shares of company stock valued at $253,275 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amicus Therapeutics

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

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.