Amylyx Pharmaceuticals (NASDAQ:AMLX) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a neutral rating to an outperform rating in a report issued on Monday morning, Marketbeat reports. They currently have $11.00 price objective on the stock, up from their previous price objective of $3.00.

A number of other research firms also recently issued reports on AMLX. Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. HC Wainwright upped their target price on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the company a “buy” rating in a research report 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amylyx Pharmaceuticals has an average rating of “Hold” and a consensus price target of $11.43.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ AMLX opened at $5.30 on Monday. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $19.95. The firm’s 50 day moving average price is $4.17 and its 200 day moving average price is $2.72. The firm has a market cap of $363.32 million, a P/E ratio of -1.39 and a beta of -0.70.

Insider Activity at Amylyx Pharmaceuticals

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 buying an additional 5,104 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 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 purchasing an additional 15,247 shares in the last quarter. Algert Global LLC bought a new position in Amylyx Pharmaceuticals during the 2nd quarter worth $47,000. CWM LLC raised its stake in Amylyx Pharmaceuticals by 104.2% in the second quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after purchasing an additional 14,613 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of 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 acquiring an additional 29,697 shares during the period. 95.84% of the stock is owned by institutional investors and hedge funds.

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.