Amicus Therapeutics (FOLD) Expected to Post Quarterly Sales of $16.78 Million

Wall Street analysts expect that Amicus Therapeutics (NASDAQ:FOLD) will report sales of $16.78 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Amicus Therapeutics’ earnings. The highest sales estimate is $17.30 million and the lowest is $16.31 million. Amicus Therapeutics posted sales of $4.17 million during the same quarter last year, which would indicate a positive year over year growth rate of 302.4%. The company is scheduled to announce its next earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Amicus Therapeutics will report full year sales of $83.69 million for the current year, with estimates ranging from $80.96 million to $85.74 million. For the next year, analysts forecast that the firm will post sales of $161.81 million per share, with estimates ranging from $116.74 million to $200.44 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Amicus Therapeutics.

How to Become a New Pot Stock Millionaire

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.11). The business had revenue of $14.73 million for the quarter, compared to the consensus estimate of $14.50 million. Amicus Therapeutics had a negative net margin of 769.03% and a negative return on equity of 71.06%.

A number of brokerages have commented on FOLD. BidaskClub upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday. ValuEngine upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Leerink Swann boosted their price target on shares of Amicus Therapeutics from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, Robert W. Baird set a $20.00 target price on shares of Amicus Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $19.06.

FOLD stock traded up $0.36 during midday trading on Friday, reaching $14.75. 1,511,554 shares of the company’s stock traded hands, compared to its average volume of 3,121,323. The firm has a market capitalization of $2,685.63, a PE ratio of -5.07 and a beta of 1.46. The company has a current ratio of 5.60, a quick ratio of 5.53 and a debt-to-equity ratio of 0.47. Amicus Therapeutics has a 52 week low of $6.41 and a 52 week high of $17.40.

In other news, insider Jay Barth sold 5,000 shares of the company’s stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $14.72, for a total value of $73,600.00. Following the completion of the sale, the insider now owns 90,409 shares in the company, valued at approximately $1,330,820.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Bradley L. Campbell sold 32,500 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $15.92, for a total transaction of $517,400.00. Following the completion of the sale, the chief operating officer now owns 186,600 shares of the company’s stock, valued at approximately $2,970,672. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,399 shares of company stock valued at $1,462,025. Company insiders own 3.40% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its holdings in shares of Amicus Therapeutics by 40.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 14,445 shares of the biopharmaceutical company’s stock worth $212,000 after buying an additional 4,145 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Amicus Therapeutics by 2.4% in the 3rd quarter. California Public Employees Retirement System now owns 181,000 shares of the biopharmaceutical company’s stock worth $2,729,000 after buying an additional 4,200 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Amicus Therapeutics by 0.9% in the 4th quarter. Teachers Advisors LLC now owns 663,936 shares of the biopharmaceutical company’s stock worth $9,554,000 after buying an additional 5,858 shares during the last quarter. QS Investors LLC boosted its holdings in shares of Amicus Therapeutics by 4.9% in the 4th quarter. QS Investors LLC now owns 159,008 shares of the biopharmaceutical company’s stock worth $2,288,000 after buying an additional 7,483 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in shares of Amicus Therapeutics by 5.6% in the 3rd quarter. Nationwide Fund Advisors now owns 178,212 shares of the biopharmaceutical company’s stock worth $2,687,000 after buying an additional 9,503 shares during the last quarter.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/04/17/amicus-therapeutics-fold-expected-to-post-quarterly-sales-of-16-78-million.html.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.

Get a free copy of the Zacks research report on Amicus Therapeutics (FOLD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Amicus Therapeutics (NASDAQ:FOLD)

Receive News & Ratings for Amicus Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amicus Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply