Amicus Therapeutics, Inc. (FOLD) Expected to Announce Earnings of -$0.32 Per Share
Brokerages expect Amicus Therapeutics, Inc. (NASDAQ:FOLD) to post earnings of ($0.32) per share for the current quarter, Zacks reports. Three analysts have provided estimates for Amicus Therapeutics’ earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.38). Amicus Therapeutics reported earnings per share of ($0.33) in the same quarter last year, which indicates a positive year over year growth rate of 3%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Amicus Therapeutics will report full year earnings of ($1.31) per share for the current financial year, with EPS estimates ranging from ($1.52) to ($1.18). For the next fiscal year, analysts forecast that the business will post earnings of ($0.99) per share, with EPS estimates ranging from ($1.36) to ($0.65). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Amicus Therapeutics.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. The business had revenue of $7.16 million during the quarter, compared to the consensus estimate of $6.96 million. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. During the same period last year, the firm earned ($0.40) earnings per share.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Chardan Capital upped their target price on shares of Amicus Therapeutics from $12.50 to $17.50 and gave the company a “buy” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of Amicus Therapeutics in a research note on Wednesday, August 9th. Cowen and Company reissued a “buy” rating and issued a $16.00 target price on shares of Amicus Therapeutics in a research note on Monday, August 14th. Finally, Leerink Swann reissued an “outperform” rating and issued a $17.00 target price (down previously from $18.00) on shares of Amicus Therapeutics in a research note on Saturday, September 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.25.
Amicus Therapeutics (NASDAQ FOLD) traded up 2.59% during trading on Friday, reaching $15.08. The company had a trading volume of 3,277,493 shares. Amicus Therapeutics has a 12-month low of $4.41 and a 12-month high of $16.06. The stock’s market cap is $2.48 billion. The firm has a 50-day moving average price of $13.24 and a 200 day moving average price of $9.90.
In other news, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The shares were purchased at an average cost of $12.25 per share, with a total value of $18,375,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in FOLD. Janus Henderson Group PLC acquired a new position in shares of Amicus Therapeutics during the second quarter worth approximately $70,762,000. Wellington Management Group LLP lifted its position in shares of Amicus Therapeutics by 358.4% during the first quarter. Wellington Management Group LLP now owns 5,341,132 shares of the biopharmaceutical company’s stock worth $38,083,000 after purchasing an additional 4,175,995 shares in the last quarter. Morgan Stanley lifted its position in shares of Amicus Therapeutics by 99.4% during the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock worth $43,696,000 after purchasing an additional 3,055,039 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Amicus Therapeutics during the first quarter worth approximately $21,394,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Amicus Therapeutics during the second quarter worth approximately $30,210,000.
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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