Amicus Therapeutics (NASDAQ:FOLD) Announces Quarterly Earnings Results, Hits Estimates

Amicus Therapeutics (NASDAQ:FOLD) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05), Briefing.com reports. Amicus Therapeutics had a negative return on equity of 77.08% and a negative net margin of 34.73%. The business had revenue of $126.67 million for the quarter, compared to analyst estimates of $121.21 million. During the same period last year, the company earned ($0.15) EPS. Amicus Therapeutics’s revenue for the quarter was up 34.0% compared to the same quarter last year. Amicus Therapeutics updated its FY 2024 guidance to EPS.

Amicus Therapeutics Stock Up 1.4 %

Shares of FOLD traded up $0.16 on Friday, reaching $11.48. The stock had a trading volume of 3,589,710 shares, compared to its average volume of 2,862,044. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -23.43 and a beta of 0.71. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.61 and a current ratio of 3.03. The company has a 50-day simple moving average of $10.20 and a 200-day simple moving average of $11.07. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57.

Analyst Upgrades and Downgrades

FOLD has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research report on Friday. Guggenheim upgraded Amicus Therapeutics from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Tuesday, May 14th. Wells Fargo & Company began coverage on Amicus Therapeutics in a research report on Thursday, May 30th. They issued an “overweight” rating and a $18.00 price objective on the stock. Morgan Stanley cut their price objective on Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, Bank of America cut their price objective on Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.57.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $10.34, for a total value of $77,550.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $9,168,002.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 6,100 shares of Amicus Therapeutics stock in a transaction on Friday, July 5th. The stock was sold at an average price of $10.00, for a total transaction of $61,000.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at $8,866,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.34, for a total value of $77,550.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $9,168,002.36. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

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.