Amicus Therapeutics (NASDAQ:FOLD) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Amicus Therapeutics (NASDAQ:FOLD) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04, Briefing.com reports. The company had revenue of $110.40 million during the quarter, compared to analyst estimates of $111.19 million. Amicus Therapeutics had a negative net margin of 34.73% and a negative return on equity of 76.47%. Amicus Therapeutics’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) earnings per share. Amicus Therapeutics updated its FY 2024 guidance to EPS.

Amicus Therapeutics Trading Down 2.6 %

Shares of FOLD opened at $9.23 on Friday. The company has a 50 day moving average price of $11.21 and a 200-day moving average price of $11.95. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 2.42. Amicus Therapeutics has a fifty-two week low of $9.13 and a fifty-two week high of $14.57.

Insider Activity at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 4,167 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $58,338.00. Following the completion of the sale, the chief executive officer now owns 871,219 shares in the company, valued at $12,197,066. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider David Michael Clark sold 4,427 shares of Amicus Therapeutics stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $61,978.00. Following the transaction, the insider now owns 253,664 shares of the company’s stock, valued at approximately $3,551,296. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bradley L. Campbell sold 4,167 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $58,338.00. Following the sale, the chief executive officer now directly owns 871,219 shares of the company’s stock, valued at approximately $12,197,066. The disclosure for this sale can be found here. Insiders have sold a total of 55,208 shares of company stock valued at $732,930 over the last ninety days. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America reduced their target price on Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group reduced their price target on shares of Amicus Therapeutics from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Amicus Therapeutics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $22.00 target price on shares of Amicus Therapeutics in a research report on Thursday, February 29th. Finally, Morgan Stanley decreased their price target 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.40.

About Amicus Therapeutics

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.