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Amicus' (FOLD) Q4 Earnings Miss Estimates, Sales Surpass
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Amicus Therapeutics (FOLD - Free Report) 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.
Shares of the company have slumped 33% in the past year compared with the industry’s decline of 10.7%.
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.
Amicus Therapeutics, Inc. Price, Consensus and EPS Surprise
Aduro’s earnings per share estimates have narrowed from 86 cents to 77 cents for 2020 in the past 60 days.
Regeneron’s earnings per share estimates have increased from $26.76 to $28.46 for 2020 and from $28.09 to $29.48 for 2021 in the past 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters by 1.44%, on average.
Nabriva’s loss per share estimates have narrowed from 92 cents to 89 cents for 2020 in the past 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters by 3.17%, on average.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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Amicus' (FOLD) Q4 Earnings Miss Estimates, Sales Surpass
Amicus Therapeutics (FOLD - Free Report) 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.
Shares of the company have slumped 33% in the past year compared with the industry’s decline of 10.7%.
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.
Amicus Therapeutics, Inc. Price, Consensus and EPS Surprise
Amicus Therapeutics, Inc. price-consensus-eps-surprise-chart | Amicus Therapeutics, Inc. Quote
Zacks Rank and Stocks to Consider
Amicus currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the biotech sector are Aduro Biotech Inc. , Regeneron Pharmaceuticals Inc. (REGN - Free Report) and Nabriva Therapeutics AG , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Aduro’s earnings per share estimates have narrowed from 86 cents to 77 cents for 2020 in the past 60 days.
Regeneron’s earnings per share estimates have increased from $26.76 to $28.46 for 2020 and from $28.09 to $29.48 for 2021 in the past 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters by 1.44%, on average.
Nabriva’s loss per share estimates have narrowed from 92 cents to 89 cents for 2020 in the past 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters by 3.17%, on average.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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