Amicus Therapeutics (NASDAQ:FOLD) Announces Earnings Results

Amicus Therapeutics (NASDAQ:FOLDGet Rating) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02, Fidelity Earnings reports. Amicus Therapeutics had a negative return on equity of 91.37% and a negative net margin of 87.50%. During the same quarter last year, the business earned ($0.19) earnings per share. Amicus Therapeutics updated its FY 2022 guidance to EPS.

Amicus Therapeutics Trading Up 11.3 %

Shares of FOLD traded up $1.24 during mid-day trading on Friday, hitting $12.18. 6,400,522 shares of the company were exchanged, compared to its average volume of 2,889,872. Amicus Therapeutics has a 1-year low of $5.91 and a 1-year high of $12.69. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 1.63. The company has a 50 day moving average of $9.95 and a 200-day moving average of $9.02.

Insider Activity

In other news, CEO John F. Crowley sold 11,346 shares of the firm’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $8.00, for a total value of $90,768.00. Following the sale, the chief executive officer now directly owns 932,807 shares in the company, valued at approximately $7,462,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John F. Crowley sold 11,346 shares of Amicus Therapeutics stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $8.00, for a total value of $90,768.00. Following the sale, the chief executive officer now owns 932,807 shares of the company’s stock, valued at $7,462,456. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daphne Quimi sold 4,396 shares of the firm’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $9.00, for a total transaction of $39,564.00. Following the completion of the sale, the chief financial officer now owns 345,507 shares of the company’s stock, valued at approximately $3,109,563. The disclosure for this sale can be found here. Insiders sold a total of 130,779 shares of company stock valued at $1,237,966 in the last 90 days. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors have recently bought and sold shares of FOLD. Point72 Hong Kong Ltd raised its holdings in Amicus Therapeutics by 14.9% in the first quarter. Point72 Hong Kong Ltd now owns 12,685 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 1,646 shares in the last quarter. US Bancorp DE grew its position in Amicus Therapeutics by 16,809.0% in the 1st quarter. US Bancorp DE now owns 15,049 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 14,960 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Amicus Therapeutics during the 1st quarter valued at about $193,000. Mariner LLC boosted its position in shares of Amicus Therapeutics by 15.5% during the 1st quarter. Mariner LLC now owns 26,338 shares of the biopharmaceutical company’s stock valued at $249,000 after purchasing an additional 3,539 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of Amicus Therapeutics during the 1st quarter valued at about $312,000.

Analyst Ratings Changes

Separately, The Goldman Sachs Group initiated coverage on shares of Amicus Therapeutics in a research note on Wednesday, April 13th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.25.

About Amicus Therapeutics

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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 based on in vitro assay data.

Further Reading

Earnings History for Amicus Therapeutics (NASDAQ:FOLD)

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