$6.96 Million in Sales Expected for Amicus Therapeutics, Inc. (FOLD) This Quarter
Wall Street brokerages predict that Amicus Therapeutics, Inc. (NASDAQ:FOLD) will report sales of $6.96 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Amicus Therapeutics’ earnings. The highest sales estimate is $7.63 million and the lowest is $6.44 million. The business is expected to report its next earnings report before the market opens on Monday, August 7th.
According to Zacks, analysts expect that Amicus Therapeutics will report full year sales of $6.96 million for the current fiscal year, with estimates ranging from $31.45 million to $36.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $92.74 million per share, with estimates ranging from $69.03 million to $115.84 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Amicus Therapeutics.
Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.37) by $0.02. The business had revenue of $4.20 million for the quarter, compared to analysts’ expectations of $4.16 million. Amicus Therapeutics’s revenue for the quarter was up 50.0% on a year-over-year basis.
Several research analysts recently commented on the company. BidaskClub cut Amicus Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Robert W. Baird raised their target price on Amicus Therapeutics from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 12th. Cowen and Company reaffirmed a “buy” rating and issued a $16.00 target price (up from $10.00) on shares of Amicus Therapeutics in a research report on Tuesday, July 11th. Zacks Investment Research raised Amicus Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, ValuEngine raised Amicus Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Amicus Therapeutics has an average rating of “Buy” and an average target price of $13.42.
Amicus Therapeutics (NASDAQ:FOLD) opened at 13.23 on Monday. Amicus Therapeutics has a 52-week low of $4.41 and a 52-week high of $14.05. The company’s market cap is $1.89 billion. The stock’s 50 day moving average is $11.40 and its 200 day moving average is $8.12.
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In other Amicus Therapeutics news, insider Jay Barth sold 30,000 shares of Amicus Therapeutics stock in a transaction on Monday, June 19th. The stock was 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 of the company’s stock, valued at $641,840. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were bought at an average cost of $12.25 per share, with a total value of $18,375,000.00. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in FOLD. Vanguard Group Inc. raised its stake in shares of Amicus Therapeutics by 4.2% in the first quarter. Vanguard Group Inc. now owns 8,687,760 shares of the biopharmaceutical company’s stock worth $61,944,000 after buying an additional 353,949 shares during the period. Palo Alto Investors LLC raised its stake in shares of Amicus Therapeutics by 23.0% in the first quarter. Palo Alto Investors LLC now owns 7,882,988 shares of the biopharmaceutical company’s stock worth $56,206,000 after buying an additional 1,472,958 shares during the period. Janus Capital Management LLC raised its stake in shares of Amicus Therapeutics by 3.6% in the first quarter. Janus Capital Management LLC now owns 7,136,697 shares of the biopharmaceutical company’s stock worth $50,883,000 after buying an additional 244,906 shares during the period. Morgan Stanley raised its stake in shares of Amicus Therapeutics by 99.4% in the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock worth $43,696,000 after buying an additional 3,055,039 shares during the period. Finally, State Street Corp raised its stake in shares of Amicus Therapeutics by 0.9% in the first quarter. State Street Corp now owns 5,766,929 shares of the biopharmaceutical company’s stock worth $41,118,000 after buying an additional 50,982 shares during the period.
About Amicus Therapeutics
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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