Amicus Therapeutics (NASDAQ:FOLD) Issues Earnings Results

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.04, Briefing.com reports. Amicus Therapeutics had a negative net margin of 37.96% and a negative return on equity of 119.46%. The business had revenue of $110.40 million during the quarter, compared to the consensus estimate of $111.19 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. The company's revenue was up 27.9% compared to the same quarter last year. Amicus Therapeutics updated its FY 2024 guidance to EPS.

Amicus Therapeutics Price Performance

FOLD traded down $0.25 on Friday, hitting $9.23. 3,519,444 shares of the company's stock were exchanged, compared to its average volume of 3,019,009. Amicus Therapeutics has a fifty-two week low of $9.13 and a fifty-two week high of $14.57. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -18.10 and a beta of 0.80. The firm has a 50-day moving average price of $11.29 and a 200-day moving average price of $11.96. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 2.42.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FOLD shares. Bank of America reduced their price target on Amicus Therapeutics from $14.00 to $13.00 and set a "buy" rating for the company in a report on Friday. Morgan Stanley reduced their target price on Amicus Therapeutics from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday. Cantor Fitzgerald reissued an "overweight" rating and issued a $22.00 price target on shares of Amicus Therapeutics in a research note on Thursday, February 29th. Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Amicus Therapeutics from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, March 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Amicus Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $18.40.

Insider Activity

In related news, Chairman John F. Crowley sold 31,614 shares of the business's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $13.81, for a total transaction of $436,589.34. Following the transaction, the chairman now directly owns 697,628 shares in the company, valued at $9,634,242.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amicus Therapeutics news, Chairman John F. Crowley sold 31,614 shares of the business's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $13.81, for a total transaction of $436,589.34. Following the transaction, the chairman now owns 697,628 shares of the company's stock, valued at $9,634,242.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bradley L. Campbell sold 7,500 shares of the company's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.07, for a total value of $75,525.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares of the company's stock, valued at $8,928,605.78. The disclosure for this sale can be found here. Insiders sold 55,208 shares of company stock worth $732,930 over the last three months. Insiders own 2.20% of the company's stock.

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.

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