Amicus Therapeutics, Inc. (FOLD) Expected to Post Quarterly Sales of $23.31 Million

Wall Street analysts expect that Amicus Therapeutics, Inc. (NASDAQ:FOLD) will announce $23.31 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Amicus Therapeutics’ earnings, with the highest sales estimate coming in at $23.50 million and the lowest estimate coming in at $22.96 million. Amicus Therapeutics posted sales of $10.87 million in the same quarter last year, which suggests a positive year over year growth rate of 114.4%. The firm is expected to issue its next earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Amicus Therapeutics will report full-year sales of $88.35 million for the current fiscal year, with estimates ranging from $88.01 million to $88.73 million. For the next fiscal year, analysts expect that the business will post sales of $181.01 million per share, with estimates ranging from $138.62 million to $241.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Amicus Therapeutics.

Amicus Therapeutics (NASDAQ:FOLD) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.33). The company had revenue of $21.31 million during the quarter, compared to analyst estimates of $18.92 million. Amicus Therapeutics had a negative return on equity of 53.45% and a negative net margin of 460.04%.

Several brokerages have recently commented on FOLD. ValuEngine upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, July 10th. Chardan Capital lowered Amicus Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $15.00 in a report on Friday, August 17th. Finally, BidaskClub lowered Amicus Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.43.

Shares of FOLD opened at $11.74 on Friday. Amicus Therapeutics has a 12 month low of $11.57 and a 12 month high of $17.62. The company has a quick ratio of 10.73, a current ratio of 10.88 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.25 billion, a PE ratio of -4.02 and a beta of 1.26.

In other news, SVP Kurt J. Andrews sold 5,000 shares of the stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $15.63, for a total transaction of $78,150.00. Following the completion of the sale, the senior vice president now owns 40,469 shares in the company, valued at approximately $632,530.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William D. Baird III sold 10,000 shares of the stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $15.63, for a total value of $156,300.00. Following the sale, the chief financial officer now owns 117,622 shares of the company’s stock, valued at approximately $1,838,431.86. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in Amicus Therapeutics by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,046,768 shares of the biopharmaceutical company’s stock worth $31,970,000 after acquiring an additional 6,931 shares during the last quarter. Arbor Wealth Management LLC purchased a new position in Amicus Therapeutics in the 2nd quarter worth $144,000. California Public Employees Retirement System raised its stake in Amicus Therapeutics by 27.4% in the 2nd quarter. California Public Employees Retirement System now owns 268,498 shares of the biopharmaceutical company’s stock worth $4,194,000 after acquiring an additional 57,727 shares during the last quarter. Ardsley Advisory Partners raised its stake in Amicus Therapeutics by 16.1% in the 2nd quarter. Ardsley Advisory Partners now owns 505,000 shares of the biopharmaceutical company’s stock worth $7,888,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Amicus Therapeutics in the 2nd quarter worth $11,048,000.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.

Read More: Market Capitalization in the Stock Market

Get a free copy of the Zacks research report on Amicus Therapeutics (FOLD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Amicus Therapeutics (NASDAQ:FOLD)

Receive News & Ratings for Amicus Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amicus Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply