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

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

Several other equities research analysts also recently weighed in on FOLD. Bank of America dropped their target price on shares of Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. decreased their target price on Amicus Therapeutics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. Finally, Cantor Fitzgerald reissued 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 five have issued a buy rating to the company’s stock. According to data from MarketBeat, Amicus Therapeutics has an average rating of “Moderate Buy” and an average target price of $18.40.

Amicus Therapeutics Stock Down 2.6 %

NASDAQ:FOLD opened at $9.23 on Friday. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.88 and a quick ratio of 2.52. Amicus Therapeutics has a 1-year low of $9.13 and a 1-year high of $14.57. The firm has a 50-day moving average of $11.21 and a two-hundred day moving average of $11.96.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. Amicus Therapeutics had a negative return on equity of 76.47% and a negative net margin of 34.73%. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $111.19 million. During the same period in the prior year, the company posted ($0.18) EPS. Amicus Therapeutics’s quarterly revenue was up 27.9% on a year-over-year basis. As a group, equities analysts anticipate that Amicus Therapeutics will post -0.05 earnings per share for the current fiscal year.

Insider Transactions at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 4,167 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $58,338.00. Following the completion of the transaction, the chief executive officer now owns 871,219 shares in the company, valued at approximately $12,197,066. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amicus Therapeutics news, Chairman John F. Crowley sold 31,614 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $13.81, for a total value of $436,589.34. Following the sale, the chairman now owns 697,628 shares in the company, valued at $9,634,242.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bradley L. Campbell sold 4,167 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $58,338.00. Following the transaction, the chief executive officer now owns 871,219 shares of the company’s stock, valued at $12,197,066. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,208 shares of company stock worth $732,930. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Amicus Therapeutics

Several hedge funds have recently added to or reduced their stakes in FOLD. Van ECK Associates Corp raised its stake in shares of Amicus Therapeutics by 23.1% during the fourth quarter. Van ECK Associates Corp now owns 4,657 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 873 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Amicus Therapeutics by 97.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,368 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 3,638 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Amicus Therapeutics in the 3rd quarter worth approximately $128,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Amicus Therapeutics in the 3rd quarter worth approximately $134,000. Finally, Calton & Associates Inc. bought a new position in shares of Amicus Therapeutics in the fourth quarter valued at approximately $142,000.

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.