Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price lifted by analysts at HC Wainwright from $8.00 to $12.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 79.10% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group upped their price objective 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.14.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $6.70 on Friday. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $19.95. The stock has a 50-day moving average price of $3.76 and a two-hundred day moving average price of $2.55.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). The business 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 period in the previous year, the firm posted $0.31 earnings per share. Research analysts expect that Amylyx Pharmaceuticals will post -3.03 earnings per share for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, Director George M. Milne, Jr. acquired 100,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the purchase, the director now directly owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director George M. Milne, Jr. purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $2.20 per share, with a total value of $220,000.00. Following the acquisition, the director now owns 858,571 shares in the company, valued at approximately $1,888,856.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James M. Frates acquired 40,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $2.53 per share, with a total value 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 represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its position in Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after acquiring an additional 5,104 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Amylyx Pharmaceuticals by 52,575.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after buying an additional 15,247 shares during the period. Algert Global LLC acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $47,000. CWM LLC increased its holdings in Amylyx Pharmaceuticals by 104.2% during 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. Finally, SG Americas Securities LLC increased its holdings in Amylyx Pharmaceuticals by 113.6% during 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. 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.