Amylyx Pharmaceuticals (NASDAQ:AMLX) Announces Earnings Results

Amylyx Pharmaceuticals (NASDAQ:AMLX) issued its quarterly earnings results on Tuesday. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06), Zacks reports.

Amylyx Pharmaceuticals Stock Down 8.5 %

NASDAQ AMLX opened at $3.00 on Tuesday. The company has a market cap of $205.64 million, a PE ratio of -0.79 and a beta of -0.54. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.42. The firm’s 50-day simple moving average is $3.58 and its two-hundred day simple moving average is $3.85.

Analysts Set New Price Targets

AMLX has been the topic of a number of research analyst reports. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $3.00 to $11.00 in a report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Finally, Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.33.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.04, for a total transaction of $30,182.84. Following the sale, the chief executive officer now directly owns 3,176,788 shares in the company, valued at $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joshua B. Cohen sold 11,851 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.47, for a total value of $41,122.97. Following the sale, the chief executive officer now owns 3,201,247 shares in the company, valued at approximately $11,108,327.09. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,169 shares of company stock valued at $97,274 over the last three months. 11.70% of the stock is currently owned by insiders.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.