Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded to “Outperform” at Mizuho

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research note issued on Monday,Finviz reports. The brokerage currently has a $7.00 price target on the stock. Mizuho’s price objective indicates a potential upside of 104.08% from the stock’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Amylyx Pharmaceuticals Stock Down 2.3 %

Shares of NASDAQ:AMLX opened at $3.43 on Monday. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $7.27. The firm has a market capitalization of $303.90 million, a P/E ratio of -0.90 and a beta of -0.53. The firm has a fifty day moving average of $3.55 and a two-hundred day moving average of $4.07.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The firm had revenue of ($0.67) million for the quarter. Equities research analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Joshua B. Cohen sold 21,490 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $74,570.30. Following the completion of the transaction, the chief executive officer now directly owns 3,355,280 shares of the company’s stock, valued at $11,642,821.60. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bernhardt G. Zeiher acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $3.70 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $37,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 64,509 shares of company stock worth $222,586. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of AMLX. Boxer Capital Management LLC bought a new position in shares of Amylyx Pharmaceuticals in the 4th quarter worth $6,615,000. Bank of America Corp DE boosted its holdings in Amylyx Pharmaceuticals by 165.9% during the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after buying an additional 1,513,748 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Amylyx Pharmaceuticals by 862.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company’s stock worth $1,786,000 after buying an additional 423,316 shares during the period. Jane Street Group LLC increased its stake in shares of Amylyx Pharmaceuticals by 122.4% in the 4th quarter. Jane Street Group LLC now owns 765,475 shares of the company’s stock valued at $2,893,000 after acquiring an additional 421,302 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Amylyx Pharmaceuticals by 43.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock valued at $4,775,000 after acquiring an additional 382,608 shares during the last quarter. 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.