Amicus Therapeutics (NASDAQ:FOLD) Announces Quarterly Earnings Results

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

Amicus Therapeutics Stock Performance

NASDAQ:FOLD traded up $0.16 during mid-day trading 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 company has a debt-to-equity ratio of 2.97, a quick ratio of 2.61 and a current ratio of 3.03. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -23.43 and a beta of 0.71. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57. The business has a 50 day simple moving average of $10.20 and a 200 day simple moving average of $11.07.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FOLD shares. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Friday. UBS Group decreased their target price on shares of Amicus Therapeutics from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Morgan Stanley decreased their target price on shares of Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Bank of America decreased their target price on shares of Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Wells Fargo & Company started coverage on shares of Amicus Therapeutics in a research note on Thursday, May 30th. They set an “overweight” rating and a $18.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.57.

Insider Activity at Amicus Therapeutics

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