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

Needham & Company LLC reaffirmed their hold rating on shares of Amicus Therapeutics (NASDAQ:FOLD) in a research note issued to investors on Monday,Benzinga reports.

Several other analysts also recently issued reports on the stock. Cantor Fitzgerald upped their price objective on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Guggenheim raised their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Stock Performance

Shares of FOLD opened at $9.23 on Monday. The company’s 50 day moving average price is $9.86 and its 200 day moving average price is $10.54. The company has a market capitalization of $2.76 billion, a PE ratio of -27.15 and a beta of 0.62. Amicus Therapeutics has a 52 week low of $8.78 and a 52 week high of $14.03. The company has a debt-to-equity ratio of 2.18, a quick ratio of 2.42 and a current ratio of 3.15.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.02, for a total transaction of $75,150.00. Following the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $8,884,273.08. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 22,901 shares of company stock valued at $259,863. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FOLD. Rhumbline Advisers grew its stake in Amicus Therapeutics by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 434,612 shares of the biopharmaceutical company’s stock valued at $4,311,000 after purchasing an additional 19,491 shares during the period. Arizona State Retirement System grew its stake in shares of Amicus Therapeutics by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock worth $615,000 after acquiring an additional 1,577 shares during the period. Headlands Technologies LLC bought a new position in shares of Amicus Therapeutics during the 2nd quarter worth $89,000. Envestnet Asset Management Inc. grew its stake in shares of Amicus Therapeutics by 3.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 450,823 shares of the biopharmaceutical company’s stock worth $4,472,000 after acquiring an additional 16,263 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Amicus Therapeutics by 14.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,020,536 shares of the biopharmaceutical company’s stock worth $29,964,000 after acquiring an additional 378,999 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.