Amicus Therapeutics (NASDAQ:FOLD) Announces Earnings Results, Misses Expectations By $0.03 EPS

by · The Markets Daily

Amicus Therapeutics (NASDAQ:FOLD – Get Free Report) announced its earnings results on Friday. The biopharmaceutical company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03), FiscalAI reports. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. The company had revenue of $185.21 million for the quarter, compared to analyst estimates of $185.00 million.

Amicus Therapeutics Stock Down 0.0%

Shares of Amicus Therapeutics stock traded down $0.01 during trading hours on Friday, hitting $14.35. 3,953,030 shares of the company’s stock traded hands, compared to its average volume of 8,529,193. Amicus Therapeutics has a twelve month low of $5.51 and a twelve month high of $14.38. The company has a market cap of $4.50 billion, a PE ratio of -358.54 and a beta of 0.38. The company has a quick ratio of 2.09, a current ratio of 2.99 and a debt-to-equity ratio of 1.70. The stock has a 50 day simple moving average of $13.94 and a 200-day simple moving average of $10.35.

Wall Street Analyst Weigh In

FOLD has been the topic of several recent analyst reports. TD Cowen downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 target price on the stock. in a research report on Monday, December 22nd. Leerink Partners downgraded shares of Amicus Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $17.00 to $14.50 in a research note on Monday, December 29th. The Goldman Sachs Group raised their target price on shares of Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Needham & Company LLC downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 19th. Finally, Zacks Research downgraded shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.39.

Check Out Our Latest Report on Amicus Therapeutics

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 77,926 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $10.86, for a total transaction of $846,276.36. Following the sale, the chief executive officer owned 1,129,782 shares in the company, valued at $12,269,432.52. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David Michael Clark sold 25,643 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $10.10, for a total value of $258,994.30. Following the transaction, the insider directly owned 296,975 shares in the company, valued at approximately $2,999,447.50. This represents a 7.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 394,807 shares of company stock worth $4,486,385. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Amicus Therapeutics by 172.6% in the fourth quarter. Invesco Ltd. now owns 1,259,225 shares of the biopharmaceutical company’s stock valued at $17,931,000 after purchasing an additional 797,255 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Amicus Therapeutics in the 4th quarter worth approximately $242,000. Empowered Funds LLC acquired a new stake in Amicus Therapeutics in the 4th quarter valued at approximately $1,605,000. Zacks Investment Management bought a new stake in Amicus Therapeutics during the 4th quarter valued at $166,000. Finally, Vazirani Asset Management LLC acquired a new position in Amicus Therapeutics during the 4th quarter worth $356,000.

About Amicus Therapeutics

(Get Free Report)

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.

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