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Amicus Therapeutics (FOLD)
NASDAQ:FOLD
Top Page
Amicus
(NASDAQ:FOLD)61Neutral
Positive Factors
Regulatory Approvals
The therapy was recently approved in Australia, two additional regulatory approvals are expected in 2025 (Japan and Canada), and up to 10 launch countries are expected this year.
Revenue Growth
The expected revenue growth is anticipated to drive the franchise to profitability.
Negative Factors
Biotech Industry Risks
FOLD faces risks common to the biotech industry, including development, regulatory, and manufacturing challenges.
Amicus (FOLD) vs. S&P 500 (SPY)
Market Cap
$2.80B
Dividend YieldN/A
Average Volume (3M)2.30M
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue Growth32.29%
EPS Growth64.39%
CountryUS
Employees499
SectorHealthcare
Sector Strength74
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.18
Shares Outstanding307,239,840
10 Day Avg. Volume2,629,740
30 Day Avg. Volume2,301,416
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)5.18
Price to Cash Flow (P/CF)-174.50
P/FCF Ratio98.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$16.40Price Target Upside79.23% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
Amicus Business Overview & Revenue Model
Company DescriptionAmicus Therapeutics (FOLD) is a biotechnology company that focuses on discovering, developing, and delivering advanced therapies for rare and orphan diseases. The company primarily operates in the biopharmaceutical sector and is known for its innovative approach to developing enzyme replacement therapies and other medicines targeting lysosomal storage disorders. Amicus aims to provide life-changing treatments for patients suffering from these severe genetic conditions.
How the Company Makes MoneyAmicus Therapeutics generates revenue through the sale of its approved therapies, primarily Galafold (migalastat), which is used to treat Fabry disease, a rare genetic disorder. The company earns money by commercializing its products in various global markets, leveraging strategic partnerships and collaborations to expand its reach. Additionally, Amicus invests in research and development to bring new therapies to market, which can lead to future revenue streams. Licensing agreements and collaborations with other pharmaceutical companies also contribute to its earnings, as they help to fund research and provide access to new technologies.
Amicus Financial Statement Overview
Summary
Amicus shows promising revenue growth with a 32.3% increase, but continues to face profitability challenges. The balance sheet reflects high leverage, posing risks, though there are signs of financial strengthening. Cash flow management is improving, yet negative free cash flow persists.Income Statement
Amicus has shown a positive trend in revenue growth, with a significant increase from $399.36 million in 2023 to $528.30 million in 2024, marking a 32.3% growth rate. Gross profit margin remains strong at approximately 90%, indicating efficient cost management. However, the net profit margin remains negative, reflecting ongoing challenges in achieving profitability. Positive EBIT margin improvement reflects enhanced operational efficiency, but negative EBITDA highlights ongoing financial pressures.65
Positive
Balance Sheet
The balance sheet shows a relatively high debt-to-equity ratio, indicating significant leverage, which poses a risk. However, the company has improved its equity position from previous years. Return on equity remains negative due to the net losses, but a gradually improving equity ratio suggests strengthening of the company's financial foundation.58
Neutral
Cash Flow
Operating cash flow has improved, narrowing the deficit from -$69.09 million to -$33.89 million, which indicates better cash management. However, free cash flow remains negative, and the free cash flow to net income ratio is unsatisfactory due to persistent net losses. Despite these challenges, the operating cash flow to net income ratio shows signs of improvement.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 528.29M | 399.36M | 329.23M | 305.51M | 260.89M | Gross Profit |
| 475.35M | 362.03M | 290.63M | 271.05M | 229.84M | EBIT |
| 24.88M | -73.49M | -204.43M | -199.92M | -243.85M | EBITDA |
| 29.39M | -92.08M | -199.58M | -202.87M | -242.98M | Net Income Common Stockholders |
| -56.11M | -151.58M | -236.57M | -250.46M | -276.85M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 249.95M | 286.20M | 293.60M | 482.50M | 483.27M | Total Assets |
| 785.03M | 777.88M | 724.17M | 905.14M | 886.52M | Total Debt |
| 443.64M | 445.06M | 452.12M | 440.13M | 441.73M | Net Debt |
| 229.89M | 198.06M | 303.31M | 194.93M | 278.49M | Total Liabilities |
| 590.99M | 617.71M | 601.12M | 597.77M | 600.14M | Stockholders Equity |
| 194.04M | 160.17M | 123.05M | 307.37M | 286.38M |
| Cash Flow | Free Cash Flow | |||
| -37.44M | -76.53M | -170.34M | -206.38M | -236.52M | Operating Cash Flow |
| -33.89M | -69.09M | -166.57M | -202.49M | -233.29M | Investing Cash Flow |
| -560.00K | 98.06M | 92.32M | 78.76M | -13.58M | Financing Cash Flow |
| 5.12M | 61.68M | -7.46M | 212.07M | 262.86M |
Amicus Technical Analysis
Negative
9.15
Price Trends
9.48
Negative
9.99
Negative
10.29
Negative
Market Momentum
-0.12
Positive
43.28
Neutral
27.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FOLD, the sentiment is Negative. The current price of 9.15 is below the 20-day moving average (MA) of 9.43, below the 50-day MA of 9.48, and below the 200-day MA of 10.29, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 43.28 is Neutral, neither overbought nor oversold. The STOCH value of 27.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FOLD.
Amicus Risk Analysis
Amicus disclosed 66 risk factors in its most recent earnings report. Amicus reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amicus Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $13.45B | 32.37 | 8.05% | ― | 17.35% | 151.40% | |
69 Neutral | $9.98B | 45.17 | 19.71% | ― | 52.97% | ― | |
64 Neutral | $124.86B | ― | -3.15% | ― | 11.64% | -114.72% | |
61 Neutral | $2.80B | ― | -31.68% | ― | 32.29% | 64.39% | |
54 Neutral | $3.80B | ― | -214.50% | ― | 29.01% | 23.93% | |
49 Neutral | $7.05B | 0.34 | -55.09% | 2.46% | 25.27% | -3.43% | |
42 Neutral | $37.21M | ― | -270.20% | ― | 144.50% | -141.91% |
* Healthcare Sector Average
Performance Comparison
FOLD
Amicus
9.15
-3.45
-27.38%
BMRN
BioMarin Pharmaceutical
71.19
-15.58
-17.96%
VRTX
Vertex Pharmaceuticals
491.64
79.79
19.37%
SRPT
Sarepta Therapeutics
107.67
-12.64
-10.51%
BLUE
Bluebird Bio
4.00
-25.00
-86.21%
RARE
Ultragenyx Pharmaceutical
40.87
-10.39
-20.27%
Amicus Earnings Call Summary
Earnings Call Date: Feb 19, 2025 | % Change Since: -7.11% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Positive
Amicus Therapeutics reported strong financial and operational performance with significant revenue growth driven by successful product launches and strategic market expansion. Despite currency exchange rate exposures and regulatory complexities, the company's outlook remains positive with targets for continued revenue growth and improved profitability.Highlights
Record Revenue Growth
Amicus reported total revenue of $528 million for 2024, representing a 32% increase year-over-year, exceeding guidance of 30% to 32% growth at constant exchange rates.
Strong Galafold Performance
Galafold achieved $458 million in revenue, with 18% growth year-on-year, or 19% at constant exchange rates. It has over 65% of the global market share of treated Fabry patients with amenable mutations.
Successful Launch of Pombiliti and Opfolda
Pombiliti and Opfolda generated over $70 million in revenue in 2024 with strong global demand and successful launches in multiple countries. Expected revenue growth for 2025 is projected at 65% to 85%.
Strategic Market Expansion
Plans to launch Pombiliti and Opfolda in up to 10 new countries in 2025, with approvals anticipated in Canada and Japan and recent approval in Australia.
Positive Financial Outlook
Amicus achieved non-GAAP profitability in 2024, with a non-GAAP net income of $74 million, and is targeting positive GAAP net income in the second half of 2025.
Lowlights
Currency Exchange Rate Impact
The company noted significant exposure to foreign exchange rates, with potential revenue impacts due to fluctuations in currencies such as the euro, British pound, and Japanese yen.
Challenges in Market Penetration
Despite high market shares in mature markets, there is still room for growth in switching patients to Galafold, highlighting ongoing challenges in market penetration.
Regulatory and Reimbursement Complexity
The company faces complex regulatory and reimbursement processes, particularly highlighted with the staggered launch timelines in countries such as Italy due to regional negotiations.
Company Guidance
During the Amicus Therapeutics Full Year 2024 Financial Results Conference Call, the company reported a significant financial performance. Total revenue reached $528 million, reflecting a 32% year-over-year growth or 33% on a constant currency basis. Galafold, one of their key products, generated $458 million in revenue, marking an 18% increase from the previous year. There are now over 2,700 patients with Fabry disease using Galafold, with the treated market doubling to 12,000 globally. The company projects Galafold revenue growth of 10% to 15% in 2025. Pombiliti and Opfolda, therapies for Pompe disease, also saw robust growth with $70 million in revenue and a projected growth of 65% to 85% for 2025. Amicus achieved over $0.5 billion in global revenue and managed operating expenses within their guidance range, achieving non-GAAP profitability for 2024. For 2025, they aim for a total revenue growth of 17% to 24% and positive GAAP net income in the second half.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.