Amylyx Pharmaceuticals’ (AMLX) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research note released on Friday, MarketBeat.com reports. They currently have a $8.00 price target on the stock.

Separately, The Goldman Sachs Group boosted their target price on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.33.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock opened at $4.66 on Friday. The firm’s 50 day moving average price is $2.82 and its two-hundred day moving average price is $2.23. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $19.95. The stock has a market cap of $316.91 million, a PE ratio of -4.36 and a beta of -0.55.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. The company had revenue of ($1.02) million during the quarter, compared to analyst estimates of $18.83 million. During the same period last year, the company earned $0.31 EPS. As a group, sell-side analysts predict that Amylyx Pharmaceuticals will post -2.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Justin B. Klee sold 18,589 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the completion of the transaction, the chief executive officer now directly owns 3,120,569 shares in the company, valued at approximately $9,985,820.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO James M. Frates purchased 40,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $2.53 per share, for a total transaction of $101,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 233,464 shares in the company, valued at approximately $590,663.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the transaction, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at approximately $9,985,820.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Amylyx Pharmaceuticals by 32.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 112,867 shares of the company’s stock valued at $321,000 after buying an additional 27,937 shares during the last quarter. Almitas Capital LLC bought a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $3,617,000. Acadian Asset Management LLC acquired a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $2,300,000. AQR Capital Management LLC grew its holdings in Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after buying an additional 3,224,454 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at about $400,000. 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.