Amylyx Pharmaceuticals (NASDAQ:AMLX) Receives “Buy” Rating from HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They presently have a $8.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 104.08% from the stock’s current price.

Separately, The Goldman Sachs Group upped their target price on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.60.

Amylyx Pharmaceuticals Trading Down 3.9 %

NASDAQ AMLX opened at $3.92 on Friday. The company has a fifty day simple moving average of $2.71 and a 200 day simple moving average of $2.21. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.95. The company has a market cap of $266.58 million, a P/E ratio of -3.66 and a beta of -0.55.

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 the consensus estimate of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. The firm had revenue of ($1.02) million during the quarter, compared to the consensus estimate of $18.83 million. During the same quarter in the previous year, the company earned $0.31 EPS. Sell-side analysts predict that Amylyx Pharmaceuticals will post -2.27 EPS for the current year.

Insider Buying and Selling

In related news, Director George M. Milne, Jr. purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought 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 of the company’s stock, valued at $1,888,856.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 acquired at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the acquisition, the director now directly owns 858,571 shares in the company, valued at $1,888,856.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a 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 shares were acquired 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 owns 233,464 shares of the company’s stock, valued at approximately $590,663.92. 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 owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of AMLX. Goldman Sachs Group Inc. increased its position in shares of Amylyx Pharmaceuticals by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,256,861 shares of the company’s stock valued at $18,501,000 after buying an additional 69,733 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Amylyx Pharmaceuticals by 32.9% during the first 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 period. Allspring Global Investments Holdings LLC increased its position 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 valued at $43,000 after buying an additional 15,247 shares during the period. Capstone Investment Advisors LLC increased its position in shares of Amylyx Pharmaceuticals by 300.4% during the first quarter. Capstone Investment Advisors LLC now owns 80,084 shares of the company’s stock valued at $227,000 after buying an additional 60,084 shares during the period. Finally, Swiss National Bank increased its position in shares of Amylyx Pharmaceuticals by 8.7% during the first quarter. Swiss National Bank now owns 86,600 shares of the company’s stock valued at $246,000 after buying an additional 6,900 shares during the period. 95.84% of the stock is currently 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.