Amicus Therapeutics (NASDAQ:FOLD) Stock Rating Reaffirmed by Needham & Company LLC

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports.

Several other research analysts have also commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Amicus Therapeutics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Bank of America cut their target price on shares of Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $22.00 price target on shares of Amicus Therapeutics in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Amicus Therapeutics Price Performance

Amicus Therapeutics stock opened at $9.48 on Friday. Amicus Therapeutics has a 1 year low of $9.24 and a 1 year high of $14.57. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.52 and a current ratio of 2.88. The firm has a 50 day moving average price of $11.29 and a 200 day moving average price of $11.96. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -18.59 and a beta of 0.80.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). The firm had revenue of $115.08 million for the quarter, compared to analysts’ expectations of $115.11 million. Amicus Therapeutics had a negative net margin of 37.96% and a negative return on equity of 119.46%. Sell-side analysts predict that Amicus Therapeutics will post 0.01 earnings per share for the current year.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $10.07, for a total transaction of $75,525.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $8,928,605.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Bradley L. Campbell sold 4,167 shares of Amicus Therapeutics stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $58,338.00. Following the completion of the sale, the chief executive officer now owns 871,219 shares in the company, valued at $12,197,066. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.07, for a total transaction of $75,525.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $8,928,605.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,208 shares of company stock worth $732,930. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Amicus Therapeutics by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock worth $404,308,000 after purchasing an additional 1,360,613 shares in the last quarter. Perceptive Advisors LLC grew its position in shares of Amicus Therapeutics by 1.3% in the 4th quarter. Perceptive Advisors LLC now owns 28,057,456 shares of the biopharmaceutical company’s stock worth $398,135,000 after acquiring an additional 364,539 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Amicus Therapeutics by 101.9% in 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 acquiring an additional 7,666,335 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Amicus Therapeutics by 349.9% during the 3rd quarter. William Blair Investment Management LLC now owns 10,376,763 shares of the biopharmaceutical company’s stock valued at $126,181,000 after acquiring an additional 8,070,098 shares in the last quarter. Finally, Fiera Capital Corp lifted its stake in Amicus Therapeutics by 2.1% during the third quarter. Fiera Capital Corp now owns 5,085,871 shares of the biopharmaceutical company’s stock worth $61,844,000 after purchasing an additional 106,086 shares during 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.