Revenue Update on Amicus Therapeutics(NASDAQ:FOLD)

Amicus Therapeutics(NASDAQ:FOLD) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $0.00. Analysts estimated a revenue of $170.00K. Earnings per share were $-0.40. Analysts had estimated an EPS of $-0.33.

In a different note, Bank of America said it Initiates Coverage on Amicus Therapeutics, according to a research note issued on May 18, 2016. The shares have been rated ‘Buy’ by the firm.

Amicus Therapeutics (FOLD) shares turned negative on Wednesdays trading session with the shares closing down -0.13 points or -1.86% at a volume of 12,26,950. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.13. The peak price level was also seen at $7.13 while the days lowest was $6.79. Finally the shares closed at $6.87. The 52-week high of the shares is $18.4 while the 52-week low is $4.98. According to the latest information available, the market cap of the company is $976 M.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, Hung Do (Chief Science Officer) sold 25,000 shares at $7.00 per share price.Also, On Aug 8, 2016, Jay Barth (Chief Medical Officer) sold 10,458 shares at $7.00 per share price.On Jun 6, 2016, Ellen Rosenberg (General Counsel & Corp. Secy) purchased 15,000 shares at $7.67 per share price, according to the Form-4 filing with the securities and exchange commission.

Amicus Therapeutics Inc. is a biopharmaceutical company. The Company focuses on the discovery development and commercialization of medicines for a range of rare and orphan diseases with a focus on improved therapies for lysosomal storage disorders (SDs). The Company’s lead product candidate is the pharmacological chaperone migalastat HCl (Galafold) a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease. The Company’s development programs also include ERTs for LSDs including Fabry disease Pompe disease and Mucopolysaccharidosis Type I (MPS I). The Company’s programs in development include the small molecule pharmacological chaperone migalastat as a monotherapy for Fabry disease SD-101 for Epidermolysis Bullosa (EB) as well as ERT products for Fabry disease Pompe disease and MPS I.

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