It has been about a month since the last earnings report for Amicus Therapeutics (FOLD Quick QuoteFOLD - Free Report) . 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.

Quarter in Details

Research and development expenses went down 49% year over year to $41 million.

Selling, general and administrative expenses totaled $74 million, up 27% from the year-ago quarter’s level.

As of Mar 30, 2023, Amicus had cash, cash equivalents and marketable securities worth $267.1 million compared with $293.6 million as of Dec 31, 2022.

2023 Guidance

The company reiterated its previously issued guidance for 2023.

Amicus expects total Galafold revenue growth of 12-17% at cc. This was driven by continued underlying demand from both switch and treatment-naïve patients, geographic expansion, label extensions, continued diagnosis of new Fabry patients and commercial execution across all major markets, including EU, Japan, the UK and the United States.

Adjusted operating expenses are estimated between $340 million and $360 million.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in fresh estimates.

The consensus estimate has shifted -35.14% due to these changes.

VGM Scores

At this time, Amicus Therapeutics has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% 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 broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Amicus Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Amicus Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Denali Therapeutics Inc. (DNLI Quick QuoteDNLI - Free Report) , a stock from the same industry, has gained 12.2%. The company reported its results for the quarter ended March 2023 more than a month ago.

Denali Therapeutics Inc. reported revenues of $35.14 million in the last reported quarter, representing a year-over-year change of -16.6%. EPS of -$0.80 for the same period compares with -$0.53 a year ago.

Denali Therapeutics Inc. is expected to post a loss of $0.68 per share for the current quarter, representing a year-over-year change of -41.7%. Over the last 30 days, the Zacks Consensus Estimate has changed -4.3%.

Denali Therapeutics Inc. has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.