Amylyx Pharmaceuticals (NASDAQ:AMLX) Given Buy Rating at HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 298.67% from the stock’s current price.

AMLX has been the subject of a number of other reports. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Robert W. Baird raised 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, November 18th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $7.33.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $3.01 on Wednesday. The company has a 50 day moving average price of $3.56 and a 200-day moving average price of $3.86. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.42. The firm has a market cap of $206.33 million, a price-to-earnings ratio of -0.79 and a beta of -0.54.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million for the quarter. On average, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, CEO Joshua B. Cohen sold 11,851 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.47, for a total value of $41,122.97. Following the transaction, the chief executive officer now directly owns 3,201,247 shares of the company’s stock, valued at approximately $11,108,327.09. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Justin B. Klee sold 7,471 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was 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 $12,834,223.52. The trade was a 0.23 % decrease in their ownership of the stock. 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. Corporate insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Boxer Capital Management LLC acquired a new position in Amylyx Pharmaceuticals in the 4th quarter valued at about $6,615,000. Bank of America Corp DE grew its position in Amylyx Pharmaceuticals by 165.9% in the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after acquiring an additional 1,513,748 shares during the period. Alpha Wave Global LP acquired a new stake in Amylyx Pharmaceuticals during the third quarter worth $2,169,000. Walleye Capital LLC raised its position in Amylyx Pharmaceuticals by 986.5% in the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after purchasing an additional 608,874 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Amylyx Pharmaceuticals by 862.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company’s stock valued at $1,786,000 after purchasing an additional 423,316 shares during the last quarter. Hedge funds and other institutional investors 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.