Zacks Research Analysts Boost Earnings Estimates for Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Amicus Therapeutics, Inc. (NASDAQ:FOLD) – Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for Amicus Therapeutics in a research note issued on Tuesday, June 11th. Zacks Research analyst R. Department now expects that the biopharmaceutical company will earn ($0.07) per share for the quarter, up from their previous estimate of ($0.08). The consensus estimate for Amicus Therapeutics’ current full-year earnings is ($0.12) per share. Zacks Research also issued estimates for Amicus Therapeutics’ FY2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.09) EPS, Q3 2025 earnings at $0.00 EPS, Q4 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.15) EPS, Q1 2026 earnings at $0.00 EPS and FY2026 earnings at $0.11 EPS.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. Amicus Therapeutics had a negative return on equity of 77.08% and a negative net margin of 34.73%. The company had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $111.19 million. During the same quarter in the prior year, the business posted ($0.18) earnings per share. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year.

Several other brokerages have also recently weighed in on FOLD. JPMorgan Chase & Co. decreased their target price on Amicus Therapeutics from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. UBS Group decreased their target price on Amicus Therapeutics from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Wells Fargo & Company initiated coverage on Amicus Therapeutics in a research note on Thursday, May 30th. They set an “overweight” rating and a $18.00 target price for the company. Bank of America decreased their target price on Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Morgan Stanley decreased their target price on Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.57.

Amicus Therapeutics Trading Down 4.7 %

NASDAQ:FOLD opened at $10.14 on Thursday. Amicus Therapeutics has a 1 year low of $9.02 and a 1 year high of $14.57. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -20.69 and a beta of 0.74. The business has a fifty day moving average of $10.22 and a 200-day moving average of $11.79. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.61 and a current ratio of 3.03.

Institutional Investors Weigh In On Amicus Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Amicus Therapeutics during the 4th quarter worth about $35,915,000. UBS Group AG raised its stake in shares of Amicus Therapeutics by 58.1% during the 4th quarter. UBS Group AG now owns 824,708 shares of the biopharmaceutical company’s stock worth $11,703,000 after purchasing an additional 303,038 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Amicus Therapeutics by 32.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,415,090 shares of the biopharmaceutical company’s stock worth $34,270,000 after purchasing an additional 593,131 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Amicus Therapeutics during the 4th quarter worth about $1,173,000. Finally, Blackstone Inc. purchased a new stake in shares of Amicus Therapeutics during the 4th quarter worth about $35,008,000.

Insider Activity at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $10.07, for a total transaction of $75,525.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $8,928,605.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.