Amylyx Pharmaceuticals’ (AMLX) “Buy” Rating Reiterated at HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $12.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 298.67% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.33.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock opened at $3.01 on Wednesday. The firm has a market cap of $206.33 million, a P/E ratio of -0.79 and a beta of -0.54. The firm’s 50 day moving average price is $3.56 and its 200-day moving average price is $3.86. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $19.42.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. As a group, research analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 11,851 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.47, for a total transaction of $41,122.97. Following the completion of the sale, the chief executive officer now directly owns 3,201,247 shares of the company’s stock, valued at $11,108,327.09. The trade was a 0.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $30,182.84. Following the transaction, the chief executive officer now directly owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,169 shares of company stock worth $97,274 in the last 90 days. Corporate insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of Amylyx Pharmaceuticals by 292.0% in the 3rd quarter. FMR LLC now owns 221,001 shares of the company’s stock valued at $716,000 after buying an additional 164,622 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Amylyx Pharmaceuticals by 144.4% in the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock valued at $455,000 after acquiring an additional 83,048 shares in the last quarter. Alpha Wave Global LP purchased a new position in shares of Amylyx Pharmaceuticals during the third quarter worth about $2,169,000. Barclays PLC increased its position in shares of Amylyx Pharmaceuticals by 91.1% during the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after purchasing an additional 40,319 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Amylyx Pharmaceuticals by 41.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock worth $2,854,000 after purchasing an additional 258,818 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals

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.