Leerink Swann Comments on Amicus Therapeutics, Inc.’s Q3 2017 Earnings (FOLD)
Amicus Therapeutics, Inc. (NASDAQ:FOLD) – Stock analysts at Leerink Swann decreased their Q3 2017 earnings per share estimates for shares of Amicus Therapeutics in a research note issued to investors on Wednesday. Leerink Swann analyst J. Schwartz now expects that the biopharmaceutical company will post earnings per share of ($0.30) for the quarter, down from their prior forecast of ($0.28). Leerink Swann also issued estimates for Amicus Therapeutics’ Q4 2017 earnings at ($0.30) EPS, FY2017 earnings at ($1.31) EPS, FY2018 earnings at ($1.06) EPS, FY2019 earnings at ($0.78) EPS and FY2020 earnings at ($0.55) EPS.
Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. The company had revenue of $7.16 million for the quarter, compared to the consensus estimate of $6.96 million. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. During the same period last year, the business posted ($0.40) EPS.
FOLD has been the topic of a number of other research reports. BidaskClub downgraded Amicus Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded Amicus Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Bank of America Corporation lowered their target price on Amicus Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Cowen and Company restated a “buy” rating and issued a $16.00 target price (up previously from $10.00) on shares of Amicus Therapeutics in a research note on Tuesday, July 11th. Finally, Robert W. Baird restated an “outperform” rating and issued a $12.00 target price on shares of Amicus Therapeutics in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $14.75.
Amicus Therapeutics (FOLD) opened at 13.43 on Friday. Amicus Therapeutics has a 12-month low of $4.41 and a 12-month high of $14.36. The stock has a 50 day moving average price of $13.18 and a 200-day moving average price of $9.72. The stock’s market capitalization is $2.21 billion.
Large investors have recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its position in shares of Amicus Therapeutics by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 10,243 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 169 shares during the last quarter. Princeton Alpha Management LP acquired a new stake in shares of Amicus Therapeutics in the first quarter worth about $106,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Amicus Therapeutics in the second quarter worth about $111,000. Tudor Investment Corp ET AL acquired a new stake in shares of Amicus Therapeutics in the second quarter worth about $124,000. Finally, Aperio Group LLC lifted its position in shares of Amicus Therapeutics by 13.5% in the second quarter. Aperio Group LLC now owns 13,986 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 1,663 shares during the last quarter.
In related news, major shareholder Life Sciences Maste Perceptive purchased 1,500,000 shares of Amicus Therapeutics stock in a transaction on Thursday, July 13th. The stock was bought at an average price of $12.25 per share, with a total value of $18,375,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay Barth sold 30,000 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $10.00, for a total value of $300,000.00. Following the completion of the sale, the insider now directly owns 64,184 shares of the company’s stock, valued at approximately $641,840. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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