Amicus Therapeutics (NASDAQ:FOLD) Issues Earnings Results

Amicus Therapeutics (NASDAQ:FOLD) issued its quarterly earnings results on Friday. The biopharmaceutical company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03), FiscalAI reports. The company had revenue of $185.21 million during the quarter, compared to analysts’ expectations of $185.00 million. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%.

Amicus Therapeutics Trading Down 0.1%

NASDAQ FOLD traded down $0.01 during trading hours on Friday, reaching $14.34. The company had a trading volume of 4,645,151 shares, compared to its average volume of 8,555,816. The company has a current ratio of 2.99, a quick ratio of 2.09 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $4.50 billion, a P/E ratio of -358.41 and a beta of 0.38. The stock has a 50-day moving average of $13.94 and a 200 day moving average of $10.35. Amicus Therapeutics has a 1-year low of $5.51 and a 1-year high of $14.38.

Analyst Ratings Changes

A number of brokerages have weighed in on FOLD. Wall Street Zen upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Leerink Partners lowered shares of Amicus Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $17.00 to $14.50 in a research report on Monday, December 29th. Zacks Research cut shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Cantor Fitzgerald lowered shares of Amicus Therapeutics from an “overweight” rating to a “hold” rating and decreased their target price for the stock from $21.00 to $14.50 in a research note on Friday, December 19th. Finally, TD Cowen lowered Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 price target for the company. in a research report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.39.

Insider Activity at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 75,000 shares of the stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $14.31, for a total transaction of $1,073,250.00. Following the transaction, the chief executive officer owned 1,021,180 shares of the company’s stock, valued at approximately $14,613,085.80. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ellen Rosenberg sold 23,621 shares of Amicus Therapeutics stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $10.00, for a total value of $236,210.00. Following the completion of the transaction, the insider directly owned 507,710 shares of the company’s stock, valued at approximately $5,077,100. This represents a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 394,807 shares of company stock valued at $4,486,385 over the last 90 days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in FOLD. HBK Investments L P purchased a new stake in Amicus Therapeutics in the fourth quarter valued at $217,160,000. State Street Corp lifted its holdings in shares of Amicus Therapeutics by 28.3% in the 4th quarter. State Street Corp now owns 14,833,314 shares of the biopharmaceutical company’s stock valued at $211,226,000 after purchasing an additional 3,270,375 shares during the last quarter. Vestal Point Capital LP lifted its holdings in shares of Amicus Therapeutics by 178.4% in the 2nd quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock valued at $68,187,000 after purchasing an additional 7,625,000 shares during the last quarter. Pentwater Capital Management LP acquired a new stake in shares of Amicus Therapeutics in the 4th quarter valued at about $163,760,000. Finally, Bank of America Corp DE grew its stake in Amicus Therapeutics by 20.7% during the 2nd quarter. Bank of America Corp DE now owns 6,847,275 shares of the biopharmaceutical company’s stock worth $39,235,000 after buying an additional 1,172,596 shares during the last quarter.

About Amicus Therapeutics

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.