Amicus Therapeutics (NASDAQ:FOLD) Receives “Hold” Rating from Needham & Company LLC

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

A number of other brokerages have also recently weighed in on FOLD. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price target on shares of Amicus Therapeutics in a research report on Wednesday, January 15th. Morgan Stanley reissued an “equal weight” rating and issued a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Guggenheim upped their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.75.

Amicus Therapeutics Price Performance

Shares of FOLD opened at $9.19 on Thursday. Amicus Therapeutics has a 1-year low of $8.78 and a 1-year high of $14.02. The stock has a market cap of $2.75 billion, a PE ratio of -51.06, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The firm has a fifty day moving average price of $9.56 and a 200 day moving average price of $10.41.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $10.02, for a total transaction of $75,150.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FOLD. Creative Planning raised its holdings in Amicus Therapeutics by 79.6% during the third quarter. Creative Planning now owns 52,855 shares of the biopharmaceutical company’s stock worth $564,000 after purchasing an additional 23,433 shares in the last quarter. Blue Trust Inc. grew its position in shares of Amicus Therapeutics by 1,705.4% in the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 2,831 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Amicus Therapeutics by 141.1% in the third quarter. Assenagon Asset Management S.A. now owns 2,037,896 shares of the biopharmaceutical company’s stock valued at $21,765,000 after purchasing an additional 1,192,489 shares during the last quarter. Legacy Capital Group California Inc. acquired a new stake in shares of Amicus Therapeutics in the third quarter valued at approximately $206,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Amicus Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 1,884 shares during the last quarter.

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.