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

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

Several other brokerages have also recently issued reports on AMLX. Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. 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 note on Monday, November 18th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.33.

Amylyx Pharmaceuticals Stock Performance

AMLX stock opened at $3.36 on Wednesday. The stock 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 one year low of $1.58 and a one year high of $19.32. The company has a 50 day moving average price of $3.54 and a two-hundred day moving average price of $3.86.

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

Insider Activity at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 7,471 shares of Amylyx Pharmaceuticals stock in a transaction 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 transaction, the chief executive officer now owns 3,176,788 shares in the company, valued at approximately $12,834,223.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joshua B. Cohen sold 11,851 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 3,201,247 shares in the company, valued at $11,108,327.09. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,169 shares of company stock worth $97,274. 11.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Amylyx Pharmaceuticals by 165.9% in the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after buying an additional 1,513,748 shares in the last quarter. Almitas Capital LLC lifted its holdings in Amylyx Pharmaceuticals by 2.2% in the 4th quarter. Almitas Capital LLC now owns 2,032,370 shares of the company’s stock worth $7,682,000 after buying an additional 43,807 shares in the last quarter. Boxer Capital Management LLC acquired a new position in Amylyx Pharmaceuticals in the 4th quarter worth $6,615,000. Nantahala Capital Management LLC lifted its holdings in Amylyx Pharmaceuticals by 3.4% in the 4th quarter. Nantahala Capital Management LLC now owns 1,452,153 shares of the company’s stock worth $5,489,000 after buying an additional 47,589 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Amylyx Pharmaceuticals by 43.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock worth $4,775,000 after buying an additional 382,608 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.