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Why Is Amicus Therapeutics (FOLD) Up 10.9% Since Last Earnings Report?

Zacks Equity Research

A month has gone by since the last earnings report for Amicus Therapeutics (FOLD). Shares have added about 10.9% 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 Estimates, Sales Surpass

Amicus reported a loss of 35 cents per share in the first quarter of 2020, wider than the Zacks Consensus Estimate of a loss of 28 cents.

Total revenues in the reported quarter were $60.5 million, surpassing the Zacks Consensus Estimate of $57 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 the second half of 2020.The company expects to add full clinical results in the first half of 2021 to support full approval. The company continues to progress toward filing an Investigational New Drug (IND) application seeking FDA approval to initiate a clinical study on its gene therapy for Pompe disease.

Amicus has two gene-therapy programs for two different types of Batten disease. The company plans to advance regulatory discussions to finalize clinical and regulatory paths for CLN6 Batten programs.

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.

How Have Estimates Been Moving Since Then?

It turns out, estimates review flatlined during the past month.

VGM Scores

Currently, Amicus Therapeutics has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, 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

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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