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

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

FOLD has been the topic of several other research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $14.50 target price (down previously from $21.00) on shares of Amicus Therapeutics in a report on Friday. The Goldman Sachs Group upped their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday. Zacks Research upgraded Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Wall Street Zen upgraded shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.36.

Amicus Therapeutics Trading Up 30.7%

FOLD traded up $3.35 on Friday, hitting $14.24. 117,020,766 shares of the company were exchanged, compared to its average volume of 4,748,287. The company has a debt-to-equity ratio of 1.70, a quick ratio of 2.09 and a current ratio of 2.99. The firm has a fifty day simple moving average of $9.36 and a two-hundred day simple moving average of $7.77. The stock has a market capitalization of $4.39 billion, a PE ratio of -355.79 and a beta of 0.46. Amicus Therapeutics has a 12 month low of $5.51 and a 12 month high of $14.36.

Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The company had revenue of $169.06 million during the quarter, compared to analysts’ expectations of $165.24 million. During the same quarter last year, the business posted $0.10 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts expect that Amicus Therapeutics will post 0.15 earnings per share for the current year.

Insider Activity

In other news, insider David Michael Clark sold 25,643 shares of Amicus Therapeutics stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.00, for a total transaction of $282,073.00. Following the sale, the insider owned 271,332 shares in the company, valued at $2,984,652. This trade represents a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeff Castelli sold 76,158 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $10.16, for a total transaction of $773,765.28. Following the transaction, the insider owned 439,318 shares of the company’s stock, valued at approximately $4,463,470.88. This represents a 14.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 319,808 shares of company stock worth $3,293,653 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its position in shares of Amicus Therapeutics by 450.1% during the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 3,358 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Amicus Therapeutics by 472.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,677 shares in the last quarter. Strs Ohio bought a new stake in Amicus Therapeutics during the 1st quarter valued at about $30,000. ANTIPODES PARTNERS Ltd purchased a new stake in Amicus Therapeutics in the 3rd quarter valued at about $31,000. Finally, Allworth Financial LP grew its stake in Amicus Therapeutics by 36.3% in the 3rd quarter. Allworth Financial LP now owns 4,678 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,246 shares in the last quarter.

Amicus Therapeutics News Summary

Here are the key news stories impacting Amicus Therapeutics this week:

• Positive Sentiment: BioMarin agreed to acquire Amicus in an all-cash deal valuing the company at roughly $4.8 billion (about $14.50 per share). BioMarin highlighted that the deal brings marketed products (Galafold and Pombiliti + Opfolda), recent product revenue (~$599M last four quarters), and expected near-term accretion to non?GAAP EPS, which supports a near-term valuation floor for FOLD shares and provides cash certainty for holders. BioMarin to Acquire Amicus Therapeutics for $4.8 Billion
• Neutral Sentiment: Trading in FOLD was temporarily halted ahead of the announcement (standard procedure for material M&A news), which concentrated volume and volatility once the halt lifted. (No article link)
• Neutral Sentiment: Citigroup initiated coverage on Amicus (adds analyst attention and liquidity), which can influence sentiment and provide updated investor models but is not a direct fundamental change. Citigroup Begins Coverage on Amicus Therapeutics
• Negative Sentiment: An investor-rights law firm (Halper Sadeh LLC) has launched an investigation into whether the $14.50-per-share sale is fair to Amicus shareholders, which could lead to litigation or delay and potentially put pressure on deal timing or terms. FOLD Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale of Amicus Therapeutics, Inc. is Fair to Shareholders
• Negative Sentiment: Recent insider sales (including the CEO and another insider selling in mid?December) may raise questions for some investors about timing of dispositions ahead of the deal—worth monitoring for governance/ optics issues. Insider Filing (SEC)

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.