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

Needham & Company LLC reissued their hold rating on shares of Amicus Therapeutics (NASDAQ:FOLD) in a research report sent to investors on Friday, Benzinga reports.

FOLD has been the subject of several other reports. Wells Fargo & Company began coverage on Amicus Therapeutics in a report on Thursday, May 30th. They issued an overweight rating and a $18.00 target price for the company. Guggenheim raised Amicus Therapeutics from a neutral rating to a buy rating and set a $13.00 target price for the company in a research report on Tuesday, May 14th. Morgan Stanley cut their price target on shares of Amicus Therapeutics from $20.00 to $19.00 and set an overweight rating on the stock in a report on Friday, May 10th. Bank of America decreased their price objective on shares of Amicus Therapeutics from $14.00 to $13.00 and set a buy rating for the company in a report on Friday, May 10th. Finally, UBS Group dropped their target price on shares of Amicus Therapeutics from $20.00 to $19.00 and set a buy rating on the stock in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Amicus Therapeutics currently has a consensus rating of Moderate Buy and an average price target of $17.57.

Amicus Therapeutics Price Performance

Shares of NASDAQ:FOLD opened at $11.58 on Friday. The company has a current ratio of 3.03, a quick ratio of 2.61 and a debt-to-equity ratio of 2.97. The stock has a market cap of $3.43 billion, a PE ratio of -23.63 and a beta of 0.71. The stock’s fifty day simple moving average is $10.24 and its two-hundred day simple moving average is $11.05. Amicus Therapeutics has a 1-year low of $9.02 and a 1-year high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Amicus Therapeutics had a negative net margin of 34.73% and a negative return on equity of 77.08%. The company had revenue of $126.67 million for the quarter, compared to analyst estimates of $121.21 million. During the same period last year, the firm earned ($0.15) earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. As a group, analysts forecast that Amicus Therapeutics will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Bradley L. Campbell sold 6,100 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $10.00, for a total transaction of $61,000.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $8,866,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Bradley L. Campbell sold 6,100 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $10.00, for a total transaction of $61,000.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $8,866,540. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $10.34, for a total value of $77,550.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $9,168,002.36. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Amicus Therapeutics by 101.9% during the 4th quarter. Wellington Management Group LLP now owns 15,190,024 shares of the biopharmaceutical company’s stock valued at $215,546,000 after purchasing an additional 7,666,335 shares in the last quarter. Norges Bank bought a new stake in Amicus Therapeutics during the fourth quarter valued at $35,915,000. Blackstone Inc. purchased a new position in Amicus Therapeutics during the fourth quarter worth about $35,008,000. Janus Henderson Group PLC increased its stake in Amicus Therapeutics by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 13,814,514 shares of the biopharmaceutical company’s stock worth $162,713,000 after acquiring an additional 2,307,385 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Amicus Therapeutics by 583.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,176,600 shares of the biopharmaceutical company’s stock valued at $25,640,000 after acquiring an additional 1,858,100 shares in the last quarter.

Amicus Therapeutics Company Profile

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.