Brokerages expect that Amicus Therapeutics, Inc. (NASDAQ:FOLD) will report $23.31 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Amicus Therapeutics’ earnings, with the highest sales estimate coming in at $23.50 million and the lowest estimate coming in at $22.96 million. Amicus Therapeutics reported sales of $10.87 million in the same quarter last year, which indicates a positive year-over-year growth rate of 114.4%. The business is scheduled to announce its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Amicus Therapeutics will report full year sales of $88.35 million for the current fiscal year, with estimates ranging from $88.01 million to $88.73 million. For the next financial year, analysts expect that the firm will report sales of $181.01 million, with estimates ranging from $138.62 million to $241.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Amicus Therapeutics.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.33). The business had revenue of $21.31 million during the quarter, compared to analyst estimates of $18.92 million. Amicus Therapeutics had a negative net margin of 460.04% and a negative return on equity of 53.45%.
A number of research firms have weighed in on FOLD. Zacks Investment Research upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, July 10th. ValuEngine lowered shares of Amicus Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 19th. BidaskClub lowered shares of Amicus Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Chardan Capital lowered shares of Amicus Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $15.00 in a research report on Friday, August 17th. Finally, Cowen reiterated a “buy” rating and issued a $31.00 price target on shares of Amicus Therapeutics in a research report on Friday, October 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $21.00.
FOLD opened at $11.97 on Friday. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -4.11 and a beta of 1.32. Amicus Therapeutics has a 1-year low of $11.57 and a 1-year high of $17.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 10.88 and a quick ratio of 10.73.
In related news, major shareholder Life Sciences Maste Perceptive bought 50,000 shares of the stock in a transaction dated Wednesday, October 3rd. The shares were purchased at an average price of $12.59 per share, with a total value of $629,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Perceptive Advisors Llc bought 20,000 shares of the stock in a transaction dated Monday, September 24th. The stock was bought at an average cost of $12.45 per share, for a total transaction of $249,000.00. The disclosure for this purchase can be found here. Insiders bought 620,000 shares of company stock worth $7,505,000 in the last three months. Insiders own 2.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Amicus Therapeutics by 6.1% in the second quarter. BlackRock Inc. now owns 16,017,301 shares of the biopharmaceutical company’s stock worth $250,190,000 after buying an additional 927,049 shares in the last quarter. Morgan Stanley raised its stake in Amicus Therapeutics by 519.6% during the second quarter. Morgan Stanley now owns 4,968,627 shares of the biopharmaceutical company’s stock valued at $77,610,000 after purchasing an additional 4,166,756 shares in the last quarter. Victory Capital Management Inc. raised its stake in Amicus Therapeutics by 18.0% during the second quarter. Victory Capital Management Inc. now owns 3,606,039 shares of the biopharmaceutical company’s stock valued at $56,325,000 after purchasing an additional 550,740 shares in the last quarter. Northern Trust Corp raised its stake in Amicus Therapeutics by 9.3% during the second quarter. Northern Trust Corp now owns 2,394,490 shares of the biopharmaceutical company’s stock valued at $37,401,000 after purchasing an additional 203,444 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Amicus Therapeutics by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,046,768 shares of the biopharmaceutical company’s stock valued at $31,970,000 after purchasing an additional 6,931 shares in the last quarter.
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.
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