Amicus Therapeutics, Inc. (NASDAQ:FOLD) – Equities researchers at Leerink Swann decreased their FY2018 earnings per share estimates for Amicus Therapeutics in a report released on Monday, November 5th. Leerink Swann analyst J. Schwartz now anticipates that the biopharmaceutical company will earn ($1.20) per share for the year, down from their prior forecast of ($1.12). Leerink Swann also issued estimates for Amicus Therapeutics’ Q4 2018 earnings at ($0.27) EPS, Q1 2019 earnings at ($0.25) EPS, Q2 2019 earnings at ($0.24) EPS, Q3 2019 earnings at ($0.24) EPS, Q4 2019 earnings at ($0.24) EPS, FY2019 earnings at ($0.96) EPS and FY2020 earnings at ($0.83) EPS.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. BidaskClub cut Amicus Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 18th. Chardan Capital cut Amicus Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $15.00 in a research report on Friday, August 17th. Cowen restated a “buy” rating and issued a $31.00 price target on shares of Amicus Therapeutics in a research report on Friday, October 12th. Finally, ValuEngine upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $19.50.
Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.04). The company had revenue of $20.60 million during the quarter, compared to analyst estimates of $23.56 million. Amicus Therapeutics had a negative net margin of 463.82% and a negative return on equity of 52.03%. The business’s revenue was up 89.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) EPS.
In other Amicus Therapeutics news, major shareholder Life Sciences Maste Perceptive bought 50,000 shares of the company’s stock in a transaction on Wednesday, October 3rd. The shares were bought at an average price of $12.59 per share, for a total transaction of $629,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Perceptive Advisors Llc bought 20,000 shares of the company’s stock in a transaction on Monday, September 24th. The shares were acquired at an average price of $12.45 per share, for a total transaction of $249,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 620,000 shares of company stock worth $7,505,000 in the last quarter. 2.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Amicus Therapeutics by 6.1% during the 2nd quarter. BlackRock Inc. now owns 16,017,301 shares of the biopharmaceutical company’s stock worth $250,190,000 after purchasing an additional 927,049 shares during the period. Morgan Stanley grew its holdings in shares of Amicus Therapeutics by 519.6% in the 2nd quarter. Morgan Stanley now owns 4,968,627 shares of the biopharmaceutical company’s stock worth $77,610,000 after acquiring an additional 4,166,756 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Amicus Therapeutics by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 3,741,654 shares of the biopharmaceutical company’s stock worth $45,237,000 after acquiring an additional 135,615 shares during the period. Northern Trust Corp grew its holdings in shares of Amicus Therapeutics by 9.3% in the 2nd quarter. Northern Trust Corp now owns 2,394,490 shares of the biopharmaceutical company’s stock worth $37,401,000 after acquiring an additional 203,444 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Amicus Therapeutics by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,046,768 shares of the biopharmaceutical company’s stock worth $31,970,000 after acquiring an additional 6,931 shares during the period.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.
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