Amicus Therapeutics, Inc. (NASDAQ:FOLD) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Amicus Therapeutics, Inc. (NASDAQ:FOLD) announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.03, MarketWatch Earnings reports. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. The firm had revenue of $7.16 million for the quarter, compared to the consensus estimate of $6.96 million. During the same period in the previous year, the firm posted ($0.40) earnings per share.

Shares of Amicus Therapeutics (NASDAQ:FOLD) traded up 1.79% during midday trading on Friday, reaching $12.51. 3,424,906 shares of the company’s stock were exchanged. The company’s 50 day moving average is $12.55 and its 200-day moving average is $8.75. Amicus Therapeutics has a 12 month low of $4.41 and a 12 month high of $14.05. The stock’s market cap is $2.06 billion.

In other Amicus Therapeutics news, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were purchased at an average cost of $12.25 per share, for a total transaction of $18,375,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay Barth sold 30,000 shares of Amicus Therapeutics stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $10.00, for a total value of $300,000.00. Following the sale, the insider now owns 64,184 shares in the company, valued at $641,840. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP purchased a new stake in Amicus Therapeutics during the first quarter valued at $496,000. UBS Asset Management Americas Inc. raised its stake in Amicus Therapeutics by 71.8% in the first quarter. UBS Asset Management Americas Inc. now owns 50,674 shares of the biopharmaceutical company’s stock valued at $361,000 after buying an additional 21,174 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Amicus Therapeutics by 12.5% in the first quarter. Bank of New York Mellon Corp now owns 672,463 shares of the biopharmaceutical company’s stock valued at $4,794,000 after buying an additional 74,700 shares in the last quarter. Princeton Alpha Management LP purchased a new stake in Amicus Therapeutics during the first quarter valued at $106,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Amicus Therapeutics during the first quarter valued at $7,346,000.

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FOLD has been the subject of several recent research reports. Zacks Investment Research cut shares of Amicus Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Robert W. Baird reiterated an “outperform” rating and set a $12.00 target price (up from $10.00) on shares of Amicus Therapeutics in a research note on Wednesday, May 17th. Bank of America Corporation cut their target price on shares of Amicus Therapeutics from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Chardan Capital reiterated a “buy” rating and set a $12.50 target price on shares of Amicus Therapeutics in a research note on Thursday, June 1st. Finally, ValuEngine upgraded shares of Amicus Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $14.58.

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.

Earnings History for Amicus Therapeutics (NASDAQ:FOLD)

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