Zacks: Brokerages Anticipate Amicus Therapeutics, Inc. (FOLD) Will Announce Quarterly Sales of $9.93 Million

Wall Street brokerages expect that Amicus Therapeutics, Inc. (NASDAQ:FOLD) will announce sales of $9.93 million for the current quarter, according to Zacks. Three analysts have provided estimates for Amicus Therapeutics’ earnings. The highest sales estimate is $10.08 million and the lowest is $9.76 million. Amicus Therapeutics reported sales of $2.13 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 366.2%. The company is scheduled to issue its next quarterly earnings results on Monday, November 6th.

According to Zacks, analysts expect that Amicus Therapeutics will report full-year sales of $9.93 million for the current fiscal year, with estimates ranging from $32.90 million to $37.13 million. For the next year, analysts expect that the company will report sales of $93.45 million per share, with estimates ranging from $69.78 million to $115.84 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Amicus Therapeutics.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. The firm had revenue of $7.16 million for the quarter, compared to analysts’ expectations of $6.96 million. During the same quarter in the previous year, the company earned ($0.40) earnings per share.

Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub raised shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Robert W. Baird increased their price target on shares of Amicus Therapeutics from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, July 12th. J P Morgan Chase & Co reissued an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of Amicus Therapeutics in a research note on Wednesday, August 9th. Finally, Chardan Capital increased their price target on shares of Amicus Therapeutics from $12.50 to $17.50 and gave the company a “buy” rating in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.58.

In other Amicus Therapeutics news, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of Amicus Therapeutics stock in a transaction on Thursday, July 13th. The shares were purchased at an average cost of $12.25 per share, with a total value of $18,375,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay Barth sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $10.00, for a total transaction of $300,000.00. Following the completion of the transaction, the insider now directly 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.

A number of hedge funds have recently made changes to their positions in FOLD. Teachers Advisors LLC boosted its stake in Amicus Therapeutics by 18.6% in the fourth quarter. Teachers Advisors LLC now owns 240,563 shares of the biopharmaceutical company’s stock valued at $1,196,000 after acquiring an additional 37,705 shares during the last quarter. Nationwide Fund Advisors raised its holdings in Amicus Therapeutics by 11.5% in the first quarter. Nationwide Fund Advisors now owns 131,945 shares of the biopharmaceutical company’s stock worth $941,000 after purchasing an additional 13,563 shares during the period. Russell Investments Group Ltd. raised its holdings in Amicus Therapeutics by 1,004.9% in the first quarter. Russell Investments Group Ltd. now owns 121,338 shares of the biopharmaceutical company’s stock worth $865,000 after purchasing an additional 110,356 shares during the period. Wells Fargo & Company MN raised its holdings in Amicus Therapeutics by 51.7% in the first quarter. Wells Fargo & Company MN now owns 153,473 shares of the biopharmaceutical company’s stock worth $1,094,000 after purchasing an additional 52,287 shares during the period. Finally, Princeton Alpha Management LP acquired a new stake in Amicus Therapeutics in the first quarter worth $106,000.

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Shares of Amicus Therapeutics (NASDAQ FOLD) opened at 13.28 on Wednesday. The company’s market cap is $2.19 billion. The company’s 50-day moving average price is $13.21 and its 200 day moving average price is $9.61. Amicus Therapeutics has a one year low of $4.41 and a one year high of $14.36.

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.

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

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