Amylyx Pharmaceuticals (NASDAQ:AMLX) Announces Quarterly Earnings Results, Misses Expectations By $0.70 EPS

Amylyx Pharmaceuticals (NASDAQ:AMLX) issued its quarterly earnings data on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.70), Zacks reports. Amylyx Pharmaceuticals had a return on equity of 12.39% and a net margin of 12.94%. The business had revenue of $88.64 million for the quarter, compared to analysts’ expectations of $113.26 million. During the same period in the previous year, the business posted $0.02 earnings per share.

Amylyx Pharmaceuticals Trading Down 5.0 %

Shares of NASDAQ:AMLX traded down $0.10 during trading on Friday, reaching $1.80. The company had a trading volume of 794,080 shares, compared to its average volume of 2,717,939. The company has a fifty day moving average of $4.11 and a two-hundred day moving average of $11.38. Amylyx Pharmaceuticals has a 12 month low of $1.70 and a 12 month high of $30.50. The stock has a market capitalization of $122.08 million, a P/E ratio of 2.70 and a beta of -0.68.

Analyst Upgrades and Downgrades

AMLX has been the subject of several research reports. Mizuho cut Amylyx Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Monday, March 18th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Amylyx Pharmaceuticals in a research report on Friday. Evercore ISI reissued an “in-line” rating on shares of Amylyx Pharmaceuticals in a report on Friday, March 8th. Leerink Partnrs downgraded Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday, March 11th. Finally, SVB Leerink cut Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, March 11th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.67.

Insider Activity

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 2,838 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $18.76, for a total value of $53,240.88. Following the completion of the transaction, the insider now directly owns 46,245 shares in the company, valued at $867,556.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Gina Mazzariello sold 2,838 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $18.76, for a total value of $53,240.88. Following the completion of the transaction, the insider now owns 46,245 shares in the company, valued at approximately $867,556.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joshua B. Cohen sold 4,135 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $18.73, for a total value of $77,448.55. Following the completion of the sale, the chief executive officer now owns 3,023,002 shares in the company, valued at $56,620,827.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,305 shares of company stock valued at $193,098. Corporate insiders own 11.70% 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.