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

HC Wainwright restated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group reaffirmed a neutral rating on shares of Amylyx Pharmaceuticals in a report on Friday, March 8th. Robert W. Baird downgraded Amylyx Pharmaceuticals from an outperform rating to a neutral rating in a report on Monday, March 11th. Leerink Partnrs downgraded Amylyx Pharmaceuticals from an outperform rating to a market perform rating in a report on Monday, March 11th. SVB Leerink downgraded Amylyx Pharmaceuticals from an outperform rating to a market perform rating in a report on Monday, March 11th. Finally, Evercore ISI reaffirmed an in-line rating on shares of Amylyx Pharmaceuticals in a report on Friday, March 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $28.67.

Amylyx Pharmaceuticals Trading Up 2.8 %

NASDAQ AMLX opened at $1.83 on Monday. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $25.48. The stock has a market cap of $124.45 million, a P/E ratio of -1.71 and a beta of -0.68. The stock’s fifty day moving average price is $1.81 and its 200-day moving average price is $8.41.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Friday, May 10th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.70). Amylyx Pharmaceuticals had a positive return on equity of 4.14% and a negative net margin of 17.86%. The company had revenue of $88.64 million during the quarter, compared to analysts’ expectations of $113.26 million. During the same period in the prior year, the company posted $0.02 earnings per share. As a group, analysts forecast that Amylyx Pharmaceuticals will post -1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Premier Path Wealth Partners LLC bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter worth about $298,000. Franklin Resources Inc. raised its stake in shares of Amylyx Pharmaceuticals by 114.4% in the fourth quarter. Franklin Resources Inc. now owns 1,325,001 shares of the company’s stock worth $19,504,000 after buying an additional 707,134 shares during the period. Sectoral Asset Management Inc. raised its stake in shares of Amylyx Pharmaceuticals by 14.1% in the fourth quarter. Sectoral Asset Management Inc. now owns 84,055 shares of the company’s stock worth $1,237,000 after buying an additional 10,400 shares during the period. Graham Capital Management L.P. raised its stake in shares of Amylyx Pharmaceuticals by 84.1% in the third quarter. Graham Capital Management L.P. now owns 56,241 shares of the company’s stock worth $1,030,000 after buying an additional 25,689 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Amylyx Pharmaceuticals by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,620 shares of the company’s stock worth $5,706,000 after buying an additional 21,758 shares during the period. 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.