Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Rating Upgraded by Baird R W

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by equities research analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. HC Wainwright increased their price target on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a report on Friday, October 18th. Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $3.00 to $11.00 in a report on Monday. Finally, Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.43.

Amylyx Pharmaceuticals Trading Up 11.3 %

Amylyx Pharmaceuticals stock opened at $5.30 on Monday. The firm has a market capitalization of $363.32 million, a P/E ratio of -1.39 and a beta of -0.70. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.95. The stock’s fifty day simple moving average is $4.17 and its 200-day simple moving average is $2.72.

Insider Activity

In other news, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the sale, the insider now owns 143,801 shares in the company, valued at approximately $460,163.20. The trade was a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George M. Milne, Jr. bought 100,000 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the acquisition, the director now directly owns 858,571 shares in the company, valued at approximately $1,888,856.20. The trade was a 13.18 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMLX. China Universal Asset Management Co. Ltd. grew its position in shares of Amylyx Pharmaceuticals by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after acquiring an additional 5,104 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Amylyx Pharmaceuticals by 52,575.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock valued at $43,000 after purchasing an additional 15,247 shares during the period. Algert Global LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at about $47,000. CWM LLC boosted its stake in shares of Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after buying an additional 14,613 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after buying an additional 29,697 shares during the last quarter. Hedge funds and other institutional investors 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.