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

HC Wainwright reissued their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research report report published on Friday, Marketbeat.com reports. They currently have a $8.00 price objective on the stock.

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

Amylyx Pharmaceuticals Stock Up 21.9 %

AMLX stock opened at $4.78 on Friday. The firm has a market cap of $325.07 million, a price-to-earnings ratio of -4.47 and a beta of -0.55. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.95. The company’s fifty day simple moving average is $2.77 and its 200 day simple moving average is $2.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.35). The firm had revenue of ($1.02) million during the quarter, compared to analyst estimates of $18.83 million. Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. During the same quarter in the previous year, the firm earned $0.31 EPS. Research analysts expect that Amylyx Pharmaceuticals will post -2.27 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Camille L. Bedrosian sold 11,442 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the sale, the insider now owns 143,801 shares in the company, valued at $460,163.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Camille L. Bedrosian sold 11,442 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the sale, the insider now owns 143,801 shares in the company, valued at $460,163.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George M. Milne, Jr. bought 100,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now directly owns 858,571 shares in the company, valued at $1,888,856.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Amylyx Pharmaceuticals by 52,575.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after purchasing an additional 15,247 shares in the last quarter. Algert Global LLC bought a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth about $47,000. CWM LLC grew its position in Amylyx Pharmaceuticals by 104.2% in the 2nd quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after purchasing an additional 14,613 shares in the last quarter. SG Americas Securities LLC grew its position in Amylyx Pharmaceuticals by 113.6% in the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after purchasing an additional 29,697 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Amylyx Pharmaceuticals by 57.9% during the 2nd quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock valued at $150,000 after acquiring an additional 27,954 shares during the period. 95.84% of the stock is owned by institutional investors.

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.