Amicus stock surges on positive 2024 revenue outlook

Investing.com -- Shares of Amicus Therapeutics (NASDAQ:FOLD ) jumped 9% as the biotech company provided an optimistic preliminary revenue outlook for 2024, along with expectations to achieve positive GAAP net income in the second half of the year.

The significant movement in Amicus shares reflects investor confidence following the company's announcement that it anticipates a strong financial performance in the upcoming year.

The premarket trading surge comes after the company's statement that, based on its current operating plans, it is on track to report positive GAAP net income during the latter half of 2024.

BofA analysts commented on the news: "We remain encouraged by the continued growth of Galafold as the main revenue driver but see significant opportunity for growth from P&O as we await future regulatory updates."

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com