Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Rating Upgraded by Mizuho

Mizuho upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a neutral rating to an outperform rating in a research report released on Monday, Marketbeat Ratings reports. The brokerage currently has $7.00 price target on the stock, up from their previous price target of $3.00.

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

Amylyx Pharmaceuticals Trading Up 0.9 %

Shares of NASDAQ AMLX opened at $3.46 on Monday. The company has a fifty day moving average price of $3.55 and a 200 day moving average price of $4.07. The firm has a market cap of $306.56 million, a PE ratio of -0.91 and a beta of -0.53. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $7.27.

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

Insider Buying and Selling

In related news, CEO Joshua B. Cohen sold 21,490 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were 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 approximately $11,642,821.60. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernhardt G. Zeiher purchased 10,000 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $37,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 64,509 shares of company stock worth $222,586. Corporate insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently bought and sold shares of AMLX. Blue Trust Inc. raised its stake in Amylyx Pharmaceuticals by 232.1% in the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after buying an additional 4,883 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. Alpine Global Management LLC bought a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at $45,000. RPO LLC acquired a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at $46,000. Finally, EntryPoint Capital LLC acquired a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at $53,000. 95.84% of the stock is currently 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.