Needham Issues a Hold Rating on Amicus (FOLD)

In a report released today, Gil Blum from Needham assigned a Hold rating to Amicus (FOLD). The company’s shares closed last Wednesday at $9.00, close to its 52-week low of $8.68.

According to TipRanks.com, Blum is a 1-star analyst with an average return of -3.4% and a 37.5% success rate. Blum covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals, Generation Bio, and Avrobio.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amicus with a $14.50 average price target.

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The company has a one-year high of $25.39 and a one-year low of $8.68. Currently, Amicus has an average volume of 2.96M.

Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FOLD in relation to earlier this year. Earlier this month, Michael Raab, a Director at FOLD bought 5,634 shares for a total of $42,593.

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Amicus Therapeutics, Inc. engages in the discovery, development, and commercialization of novel treatments for patients living with rare and orphan diseases. Its product include migalastat HCl, which is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy for fabry disease. The company was founded on February 4, 2002 and is headquartered in Cranbury, NJ.