Robert W. Baird Upgrades Amylyx Pharmaceuticals (NASDAQ:AMLX) to “Outperform”

Robert W. Baird upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a neutral rating to an outperform rating in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has $11.00 target price on the stock, up from their prior target price of $3.00.

A number of other research analysts have also weighed in on AMLX. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research note on Friday, October 18th. HC Wainwright raised their target price on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Bank of America upgraded Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.43.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $5.23 on Monday. The stock has a market cap of $358.51 million, a P/E ratio of -1.37 and a beta of -0.70. The stock’s 50 day simple moving average is $4.28 and its 200 day simple moving average is $2.76. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.95.

Insider Activity at Amylyx Pharmaceuticals

In other news, CEO Justin B. Klee sold 18,589 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $59,484.80. Following the sale, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at $9,985,820.80. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $36,614.40. Following the sale, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. This trade represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted 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 purchasing an additional 5,104 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Amylyx Pharmaceuticals by 52,575.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after acquiring an additional 15,247 shares during the period. Algert Global LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth $47,000. CWM LLC raised its holdings 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 acquiring an additional 14,613 shares during the period. Finally, SG Americas Securities LLC increased its stake in Amylyx Pharmaceuticals by 113.6% in the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after buying an additional 29,697 shares during the last quarter. 95.84% of the stock is owned by institutional investors.

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.