Why Is Amicus Therapeutics (FOLD) Up 8.1% Since Last Earnings Report?
It has been about a month since the last earnings report for Amicus Therapeutics (FOLD). Shares have added about 8.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Amicus Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Amicus Q1 Earnings Miss, Galafold Sales Grow
Amicus reported a first-quarter 2023 loss of 18 cents per share, wider than the Zacks Consensus Estimate and our model estimates of a loss of 13 cents and 16 cents, respectively. The company reported a loss of 30 cents per share in the year-ago quarter.
Revenues totaled $86.3 million in the reported quarter, up 10% year over year. The figure beat both the Zacks Consensus Estimate and our model estimates of $82 million. The top line comprised of sales of Galafold. On a constant-currency (cc) basis, total revenue growth was 14% year over year.