Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded by Robert W. Baird to Outperform Rating

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Monday, MarketBeat.com reports. The brokerage presently has a $11.00 target price on the stock, up from their prior target price of $3.00. Robert W. Baird’s target price indicates a potential upside of 131.09% from the stock’s previous close.

A number of other brokerages also recently weighed in on AMLX. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. HC Wainwright raised their price objective on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.43.

Amylyx Pharmaceuticals Trading Down 5.2 %

NASDAQ AMLX opened at $4.76 on Monday. The firm’s 50 day simple moving average is $4.12 and its 200 day simple moving average is $2.70. The firm has a market capitalization of $326.30 million, a price-to-earnings ratio of -1.25 and a beta of -0.70. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $19.95.

Insider Activity

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 18,589 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the sale, the chief executive officer now owns 3,120,569 shares in the company, valued at approximately $9,985,820.80. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the completion of the sale, the insider now directly owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. The trade was a 7.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMLX. Geode Capital Management LLC lifted its position in shares of Amylyx Pharmaceuticals by 17.5% in the 3rd quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after purchasing an additional 82,173 shares during the period. Barclays PLC lifted its holdings in Amylyx Pharmaceuticals by 91.1% in the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after buying an additional 40,319 shares during the period. Walleye Capital LLC boosted its position in Amylyx Pharmaceuticals by 986.5% during the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after acquiring an additional 608,874 shares during the last quarter. Alpha Wave Global LP acquired a new stake in Amylyx Pharmaceuticals during the 3rd quarter worth about $2,169,000. Finally, FMR LLC raised 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 worth $716,000 after acquiring an additional 164,622 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.