AMICUS THERAPEUTICS Reports Earnings for Q2 FY2023
August 26, 2023
🌥️Earnings Overview
AMICUS THERAPEUTICS ($NASDAQ:FOLD) announced their second quarter fiscal year 2023 earnings results on June 30, 2023, with a 17.1% year-over-year increase in total revenue to USD 94.5 million. Net income for the quarter was -43.2 million, reflecting an improvement from the -62.2 million reported in the same period of the previous year.
Market Price
AMICUS THERAPEUTICS reported its earnings for the second quarter of 2023 on Tuesday, with its stock opening at a price of $12.4 and closing at $13.9. This 10.5% increase from the previous closing price of $12.5 marks a positive sign for the company and its shareholders. While the exact financials from the report are still to be released, investors have responded positively to the news. The company is a biopharmaceutical that focuses on developing treatments for rare diseases. AMICUS THERAPEUTICS has been instrumental in providing innovative therapies to patients suffering from rare diseases, having developed treatments utilizing gene therapy, small molecule and enzyme replacement therapies. It has a strong pipeline of products that are currently undergoing clinical trials and could be approved in the near future.
AMICUS THERAPEUTICS has also been in the news recently due to its proposed merger with another biopharmaceutical company, Viela Bio. The merger is expected to expand both companies’ pipelines and create a global leader in rare diseases. The merger announcement is expected to be made soon, and investors are eagerly awaiting more information. Overall, the stock performance of AMICUS THERAPEUTICS after its earnings report has been encouraging and investors have responded positively to the news. The company’s commitment to developing treatments for rare diseases has been commendable, and its proposed merger could lead to even greater success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Amicus Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 350.56 | -185.31 | -51.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Amicus Therapeutics. More…
| Operations | Investing | Financing |
| -126.6 | 94.07 | 15.85 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Amicus Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 730.09 | 618.51 | 0.39 |
Key Ratios Snapshot
Some of the financial key ratios for Amicus Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.6% | – | -42.2% |
| FCF Margin | ROE | ROA |
| -38.0% | -86.4% | -12.7% |
Analysis
At GoodWhale, we analyze AMICUS THERAPEUTICS’s financials with our proprietary software. According to our Star Chart, AMICUS THERAPEUTICS has a low health score of 2/10 with regard to its cashflows and debt, indicating that it is less likely to safely ride out any crisis without the risk of bankruptcy. We classify AMICUS THERAPEUTICS as a ‘cheetah’ company; one that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given its strengths in growth, medium in asset and weak in dividend, profitability, AMICUS THERAPEUTICS may be of interest to investors looking to take on higher risks for potentially higher rewards. These investors may be willing to overlook the company’s low health score and look for opportunities to benefit from its growth potential. More…
Peers
The company’s competitors include SpringWorks Therapeutics Inc, Synthetic Biologics Inc, and Tonix Pharmaceuticals Holding Corp.
– SpringWorks Therapeutics Inc ($NASDAQ:SWTX)
Springs Works Therapeutics is a clinical-stage biopharmaceutical company that focuses on the development of treatments for patients with psychiatric and neurological disorders. The company’s most advanced product candidate is brexanolone, which is in Phase III clinical trials for the treatment of postpartum depression. Springs Works has a market cap of $1.52 billion and a return on equity of -64.67%.
– Synthetic Biologics Inc ($NYSEAM:SYN)
The company’s market cap is 28.98M as of 2022 and its ROE is -26.13%. The company’s products include prescription and over-the-counter drugs, as well as medical devices and supplies. The company has operations in the United States, Europe, Asia, and Latin America. The company’s products are sold through a network of retail pharmacies, wholesalers, and distributors.
Summary
Investors in AMICUS THERAPEUTICS have seen a positive response to the company’s financial results for the second quarter of FY2023. Total revenue was up 17.1% year-over-year to USD 94.5 million, while net income improved from the -62.2 million reported in Q2 of FY2022 to -43.2 million in Q2 FY2023. The positive news sent the stock price up on the day of the announcement. Going forward, investors should continue to closely monitor AMICUS THERAPEUTICS for further developments in revenue growth and profitability that could indicate the company’s progress over the next few quarters.
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