Amylyx Pharmaceuticals’ (AMLX) “Buy” Rating Reiterated at HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 323.28% from the stock’s current price.

Several other research firms have also recently commented on AMLX. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Amylyx Pharmaceuticals in a report on Friday, March 8th. Mizuho lowered Amylyx Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Monday, March 18th. SVB Leerink lowered shares of Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday, March 11th. Leerink Partnrs downgraded shares of Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, March 11th. Finally, Evercore ISI reissued an “in-line” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, March 8th. Six 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, Amylyx Pharmaceuticals currently has an average rating of “Hold” and an average target price of $32.67.

Amylyx Pharmaceuticals Stock Down 2.1 %

Shares of AMLX opened at $1.89 on Friday. Amylyx Pharmaceuticals has a 52-week low of $1.70 and a 52-week high of $30.50. The stock has a market cap of $128.54 million, a PE ratio of 2.70 and a beta of -0.68. The firm’s fifty day moving average is $4.11 and its two-hundred day moving average is $11.38.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $108.45 million for the quarter, compared to the consensus estimate of $106.40 million. Amylyx Pharmaceuticals had a net margin of 12.94% and a return on equity of 12.39%. During the same period last year, the firm posted ($0.65) earnings per share. As a group, research analysts anticipate that Amylyx Pharmaceuticals will post -1.01 earnings per share for the current year.

Insider Activity

In related news, CEO Joshua B. Cohen sold 4,135 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total transaction of $77,448.55. Following the completion of the transaction, the chief executive officer now owns 3,023,002 shares of the company’s stock, valued at approximately $56,620,827.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Joshua B. Cohen sold 4,135 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $18.73, for a total transaction of $77,448.55. Following the transaction, the chief executive officer now owns 3,023,002 shares of the company’s stock, valued at approximately $56,620,827.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James M. Frates sold 1,792 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total value of $33,564.16. Following the completion of the transaction, the chief financial officer now directly owns 134,784 shares of the company’s stock, valued at $2,524,504.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,305 shares of company stock valued at $193,098. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC increased its position in shares of Amylyx Pharmaceuticals by 124.4% during the third quarter. Stonepine Capital Management LLC now owns 2,515,868 shares of the company’s stock worth $46,066,000 after acquiring an additional 1,394,840 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Amylyx Pharmaceuticals by 121.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,700,200 shares of the company’s stock valued at $31,131,000 after purchasing an additional 932,000 shares in the last quarter. Avidity Partners Management LP boosted its stake in shares of Amylyx Pharmaceuticals by 94.9% in the 3rd quarter. Avidity Partners Management LP now owns 1,756,940 shares of the company’s stock valued at $32,170,000 after buying an additional 855,540 shares during the period. Franklin Resources Inc. grew its position in shares of Amylyx Pharmaceuticals by 114.4% during the fourth quarter. Franklin Resources Inc. now owns 1,325,001 shares of the company’s stock worth $19,504,000 after buying an additional 707,134 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Amylyx Pharmaceuticals during the third quarter worth approximately $11,897,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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.