Leerink Swann Equities Analysts Reduce Earnings Estimates for Amicus Therapeutics, Inc. (FOLD)
Amicus Therapeutics, Inc. (NASDAQ:FOLD) – Analysts at Leerink Swann reduced their Q3 2017 earnings per share estimates for Amicus Therapeutics in a report released on Wednesday. Leerink Swann analyst J. Schwartz now anticipates that the biopharmaceutical company will post earnings of ($0.30) per share for the quarter, down from their prior estimate of ($0.28). Leerink Swann also issued estimates for Amicus Therapeutics’ Q4 2017 earnings at ($0.30) EPS, FY2017 earnings at ($1.31) EPS, FY2018 earnings at ($1.06) EPS, FY2019 earnings at ($0.78) EPS and FY2020 earnings at ($0.55) EPS.
Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.03. The company had revenue of $7.16 million during the quarter, compared to analysts’ expectations of $6.96 million. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. During the same period in the previous year, the company earned ($0.40) EPS.
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Other equities analysts have also issued reports about the stock. Chardan Capital restated a “buy” rating and issued a $12.50 price objective on shares of Amicus Therapeutics in a research report on Thursday, June 1st. Bank of America Corporation cut their price objective on shares of Amicus Therapeutics from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. J P Morgan Chase & Co set a $13.00 price objective on shares of Amicus Therapeutics and gave the company a “buy” rating in a research report on Monday, June 5th. Cowen and Company restated a “buy” rating and issued a $16.00 price objective (up from $10.00) on shares of Amicus Therapeutics in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $14.75.
Amicus Therapeutics (NASDAQ FOLD) opened at 13.88 on Friday. The stock has a 50 day moving average of $13.20 and a 200 day moving average of $9.77. Amicus Therapeutics has a 12 month low of $4.41 and a 12 month high of $14.36. The firm’s market capitalization is $2.28 billion.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in Amicus Therapeutics by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 777,146 shares of the biopharmaceutical company’s stock valued at $5,541,000 after purchasing an additional 41,711 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in Amicus Therapeutics in the second quarter valued at approximately $1,057,000. BNP Paribas Arbitrage SA raised its stake in Amicus Therapeutics by 3,672.2% in the second quarter. BNP Paribas Arbitrage SA now owns 68,012 shares of the biopharmaceutical company’s stock valued at $685,000 after purchasing an additional 66,209 shares in the last quarter. Geode Capital Management LLC raised its stake in Amicus Therapeutics by 4.7% in the first quarter. Geode Capital Management LLC now owns 1,167,356 shares of the biopharmaceutical company’s stock valued at $8,323,000 after purchasing an additional 52,003 shares in the last quarter. Finally, Morgan Stanley raised its stake in Amicus Therapeutics by 99.4% in the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock valued at $43,696,000 after purchasing an additional 3,055,039 shares in the last quarter.
In related news, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The shares were acquired at an average cost of $12.25 per share, with a total value of $18,375,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jay Barth sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $10.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider now directly owns 64,184 shares in the company, valued at $641,840. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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