Amylyx Pharmaceuticals (NASDAQ:AMLX) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $12.00 price target on the stock.

AMLX has been the subject of a number of other research reports. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $3.00 to $11.00 in a research report on Monday, November 18th. Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.33.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $3.36 on Wednesday. The company has a 50-day moving average of $3.54 and a 200-day moving average of $3.86. The company has a market capitalization of $230.32 million, a P/E ratio of -0.88 and a beta of -0.54. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.32.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The firm had revenue of ($0.67) million for the quarter. As a group, sell-side analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 11,851 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Justin B. Klee sold 7,471 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total transaction of $30,182.84. Following the completion of the sale, the chief executive officer now owns 3,176,788 shares in the company, valued at $12,834,223.52. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,169 shares of company stock worth $97,274. 11.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Amylyx Pharmaceuticals by 165.9% in the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock valued at $9,171,000 after purchasing an additional 1,513,748 shares during the period. Almitas Capital LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 2.2% in the fourth quarter. Almitas Capital LLC now owns 2,032,370 shares of the company’s stock valued at $7,682,000 after acquiring an additional 43,807 shares in the last quarter. Boxer Capital Management LLC bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $6,615,000. Nantahala Capital Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 3.4% in the fourth quarter. Nantahala Capital Management LLC now owns 1,452,153 shares of the company’s stock valued at $5,489,000 after acquiring an additional 47,589 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Amylyx Pharmaceuticals by 43.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock valued at $4,775,000 after acquiring an additional 382,608 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.