Campbell Bradley L, the President and CEO of Amicus Therapeutics , Inc. (NASDAQ:FOLD), recently sold shares of the company as reported in a recent SEC filing. On November 6, Campbell sold 7,901 shares of common stock at an average price of $12.5048, totaling approximately $98,800. This transaction was part of a pre-established Rule 10b5-1 trading plan.
In addition to the sale, Campbell also exercised stock options to acquire 7,901 shares at a price of $12.28 per share. Following these transactions, Campbell holds 886,654 shares of Amicus Therapeutics.
In other recent news, Amicus Therapeutics has demonstrated robust Q3 growth, with a significant 37% increase in revenue, reaching $142 million. This growth was primarily driven by the firm's lead product, Galafold, which saw a 19% rise in global revenue. Consequently, Amicus Therapeutics has revised its full-year revenue guidance upwards to 30%-32%.
The company maintained a non-GAAP profitability of $45 million for the first nine months, demonstrating effective management of operational expenses. Despite some challenges, such as slowed patient addition rates and ongoing litigation, Amicus Therapeutics is optimistic about the future. The firm has plans to double its sales by 2025, expand into new markets, and focus on strategic growth in various rare disease areas.
Furthermore, Amicus Therapeutics aims to increase patient access and reimbursement in Europe and acquire late-stage or commercial assets within the next 12 to 24 months. These recent developments indicate that the company is well-positioned to achieve its goals and continue its success in the rare disease market.
InvestingPro Insights
While Campbell Bradley L's recent stock transaction provides insight into insider activity, a broader look at Amicus Therapeutics' (NASDAQ:FOLD) financial metrics offers a more comprehensive view of the company's position.
According to InvestingPro data, Amicus Therapeutics boasts a market capitalization of $3.28 billion, reflecting its significant presence in the biotechnology sector. The company's revenue growth is noteworthy, with a 32.58% increase over the last twelve months as of Q3 2023, reaching $493.67 million. This robust growth trend is further emphasized by a 36.73% quarterly revenue growth in Q3 2023.
One of the standout metrics is Amicus Therapeutics' impressive gross profit margin of 89.99% for the last twelve months, which aligns with an InvestingPro Tip highlighting the company's "impressive gross profit margins." This indicates strong pricing power and efficient cost management in its core operations.
Despite these positive indicators, it's important to note that Amicus Therapeutics is currently not profitable over the last twelve months, as pointed out by another InvestingPro Tip. However, analysts predict that the company will become profitable this year, suggesting potential for financial improvement.
For investors seeking a deeper understanding of Amicus Therapeutics' prospects, InvestingPro offers additional insights. There are 6 more InvestingPro Tips available for FOLD, providing a more comprehensive analysis of the company's financial health and market position.
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