Amicus Therapeutics (FOLD) Scheduled to Post Quarterly Earnings on Wednesday

Posted by Defense World Staff on May 8th, 2023

Amicus Therapeutics (NASDAQ:FOLD – Get Rating) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, May 10th. Analysts expect the company to announce earnings of ($0.13) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Amicus Therapeutics (NASDAQ:FOLD – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The biopharmaceutical company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Amicus Therapeutics had a negative return on equity of 141.73% and a negative net margin of 71.83%. The firm had revenue of $88.20 million during the quarter, compared to analyst estimates of $86.95 million. On average, analysts expect Amicus Therapeutics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Amicus Therapeutics Trading Up 2.5 %

NASDAQ:FOLD opened at $12.15 on Monday. The stock’s 50 day moving average price is $11.62 and its 200 day moving average price is $11.85. Amicus Therapeutics has a 52 week low of $5.91 and a 52 week high of $13.84. The company has a debt-to-equity ratio of 3.19, a quick ratio of 2.88 and a current ratio of 3.05.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FOLD shares. StockNews.com upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, March 27th. The Goldman Sachs Group increased their price objective on Amicus Therapeutics from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. BTIG Research increased their price target on Amicus Therapeutics from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, January 18th. Bank of America increased their price target on Amicus Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, March 27th. Finally, UBS Group increased their price target on Amicus Therapeutics from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

Insider Buying and Selling at Amicus Therapeutics

In other Amicus Therapeutics news, Chairman John F. Crowley sold 6,044 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $12.94, for a total transaction of $78,209.36. Following the transaction, the chairman now owns 998,625 shares in the company, valued at $12,922,207.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman John F. Crowley sold 6,044 shares of the firm’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $12.94, for a total value of $78,209.36. Following the sale, the chairman now owns 998,625 shares in the company, valued at $12,922,207.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Bradley L. Campbell sold 11,700 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $11.21, for a total transaction of $131,157.00. Following the completion of the sale, the chief executive officer now owns 823,454 shares in the company, valued at approximately $9,230,919.34. The disclosure for this sale can be found here. Insiders have sold a total of 58,028 shares of company stock worth $675,514 over the last 90 days. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Amicus Therapeutics by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,871,062 shares of the biopharmaceutical company’s stock worth $270,095,000 after purchasing an additional 138,973 shares during the period. Morgan Stanley lifted its position in Amicus Therapeutics by 3.8% in the fourth quarter. Morgan Stanley now owns 17,839,354 shares of the biopharmaceutical company’s stock worth $217,819,000 after purchasing an additional 655,841 shares during the period. State Street Corp lifted its position in Amicus Therapeutics by 16.6% in the second quarter. State Street Corp now owns 13,918,315 shares of the biopharmaceutical company’s stock worth $149,483,000 after purchasing an additional 1,983,752 shares during the period. Norges Bank bought a new position in Amicus Therapeutics in the fourth quarter worth $65,935,000. Finally, Geode Capital Management LLC lifted its position in Amicus Therapeutics by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 4,890,428 shares of the biopharmaceutical company’s stock worth $59,712,000 after purchasing an additional 167,542 shares during the period.

About Amicus Therapeutics

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Amicus Therapeutics, Inc operates as a biotechnology company. The firm focuses on discovering, developing and delivering medicines for people living with metabolic diseases. Its product portfolio includes first and only approved oral precision medicine for people living with Fabry disease who have amenable genetic variants, a novel, clinical-stage, treatment paradigm for Pompe disease and a rare disease gene therapy portfolio.