HC Wainwright Reiterates “Buy” Rating for Amylyx Pharmaceuticals (NASDAQ:AMLX)

HC Wainwright restated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a report released on Friday, MarketBeat.com reports. HC Wainwright currently has a $8.00 price target on the stock.

Separately, The Goldman Sachs Group increased 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.33.

Amylyx Pharmaceuticals Trading Up 21.9 %

AMLX opened at $4.78 on Friday. The company has a 50 day moving average of $2.77 and a 200 day moving average of $2.21. The company has a market cap of $325.07 million, a PE ratio of -4.47 and a beta of -0.55. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95.

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 analysts’ expectations of $18.83 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. Research analysts forecast that Amylyx Pharmaceuticals will post -2.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 11,442 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the transaction, the insider now owns 143,801 shares in the company, valued at approximately $460,163.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 18,589 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $59,484.80. Following the sale, the chief executive officer now owns 3,120,569 shares in the company, valued at approximately $9,985,820.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Camille L. Bedrosian sold 11,442 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the completion of the sale, the insider now owns 143,801 shares in the company, valued at approximately $460,163.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in 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 purchasing an additional 15,247 shares during the period. Algert Global LLC bought a new position in Amylyx Pharmaceuticals during the second quarter valued at approximately $47,000. CWM LLC lifted its position in Amylyx Pharmaceuticals by 104.2% during 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 during the period. SG Americas Securities LLC lifted its position in Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after purchasing an additional 29,697 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Amylyx Pharmaceuticals by 57.9% during the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock valued at $150,000 after purchasing an additional 27,954 shares during the period. 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.