Amicus Therapeutics (FOLD) Up 1.1% Since Last Earnings Report: Can It Continue?
A month has gone by since the last earnings report for Amicus Therapeutics (FOLD). Shares have added about 1.1% 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 the most recent earnings report in order to get a better handle on the important catalysts.
Amicus' Q4 Earnings Miss Estimates, Sales Surpass
Amicus reported a loss of 35 cents per share in the fourth quarter of 2019, wider than the Zacks Consensus Estimate of a loss of 26 cents.
Total revenues in the reported quarter were $55 million, surpassing the Zacks Consensus Estimate of $52 million.
The company has not provided any numbers for the fourth quarter of 2019.
However, here we are discussing the 2019 figures in detail.
2019 Results
Amicus reported a loss of $1.31 per share in 2019, narrower than the loss of $1.88 in 2018 and the Zacks Consensus Estimate of a loss of $1.38.
Total revenues in 2019 were $182.2 million, up from $91.2 million in 2018 and the Zacks Consensus Estimate of $180.9 million. The company realized revenues from the commercial sales of its only marketed drug, Galafold (migalastat).
Galafold sales exceeded the high end of the full-year 2019 guidance range of $170-$180 million.
2020 Guidance
For 2020, the company expects total Galafold revenues of $250-$260 million based on the average exchange rates for 2019.
2020 Priorities
The lead pipeline candidate in Amicus’ portfolio is AT-GAA, a differentiated biologic for Pompe disease. The company plans to apply for and initiate a rolling biologics license application (BLA) for AT-GAA for the treatment of Pompe disease in 2020.The company expects to add full clinical results in the first half of 2021 to support full approval under Fast Track designation.
Amicus has two gene-therapy programs for two different types of Batten disease. The company expects to dose additional patients in the CLN6 phase I/II study and plans to advance regulatory discussions to finalize clinical and regulatory paths.
The company expects to report initial data on patients enrolled in the CLN3 phase I/II study. It plans to advance regulatory discussions to finalize clinical and regulatory paths.
Amicus reported a loss of $1.31 per share in 2019, narrower than the loss of $1.88 in 2018 and the Zacks Consensus Estimate of a loss of $1.38.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month. The consensus estimate has shifted -10% due to these changes.
VGM Scores
At this time, Amicus Therapeutics has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. However, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision has been net zero. Notably, Amicus Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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