Needham & Company LLC Reiterates Hold Rating for Amicus Therapeutics (NASDAQ:FOLD)

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

Several other analysts also recently commented on the company. Cantor Fitzgerald increased their target price on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Morgan Stanley restated an “equal weight” rating and issued a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their price target on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. StockNews.com downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Bank of America raised their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Stock Performance

Shares of FOLD opened at $9.02 on Monday. The business’s fifty day simple moving average is $9.90 and its two-hundred day simple moving average is $10.55. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. Amicus Therapeutics has a 12 month low of $8.85 and a 12 month high of $14.03. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -26.53 and a beta of 0.62.

Insider Activity at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,901 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total transaction of $98,762.50. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $11,083,175. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 22,901 shares of company stock worth $259,863. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in Amicus Therapeutics by 13.5% during the third quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock valued at $255,936,000 after acquiring an additional 2,856,101 shares during the period. Geode Capital Management LLC raised its holdings in Amicus Therapeutics by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,599,871 shares of the biopharmaceutical company’s stock valued at $70,499,000 after acquiring an additional 80,926 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Amicus Therapeutics by 4.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,160,027 shares of the biopharmaceutical company’s stock valued at $33,749,000 after acquiring an additional 139,491 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Amicus Therapeutics by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company’s stock valued at $28,486,000 after acquiring an additional 242,672 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Amicus Therapeutics by 141.1% during the third quarter. Assenagon Asset Management S.A. now owns 2,037,896 shares of the biopharmaceutical company’s stock valued at $21,765,000 after acquiring an additional 1,192,489 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.