Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price hoisted by investment analysts at HC Wainwright from $8.00 to $12.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 79.10% from the stock’s current price.

A number of other brokerages have also recently issued reports on AMLX. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research note on Friday, October 18th. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their price objective on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.14.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX opened at $6.70 on Friday. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $19.95. The stock’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $2.55.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). The business had revenue of ($1.02) million during the quarter, compared to analysts’ expectations of $18.83 million. Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. During the same quarter last year, the business posted $0.31 EPS. On average, analysts expect that Amylyx Pharmaceuticals will post -3.03 EPS for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 11,442 shares of the firm’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, September 30th. The shares were 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 $460,163.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George M. Milne, Jr. acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the acquisition, the director now directly owns 858,571 shares in the company, valued at $1,888,856.20. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in 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 during the last quarter. Swiss National Bank increased its position in Amylyx Pharmaceuticals by 8.7% during the first quarter. Swiss National Bank now owns 86,600 shares of the company’s stock worth $246,000 after purchasing an additional 6,900 shares during the last quarter. Vanguard Group Inc. increased its position in Amylyx Pharmaceuticals by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company’s stock worth $15,189,000 after purchasing an additional 72,573 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Amylyx Pharmaceuticals by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 970,555 shares of the company’s stock worth $2,757,000 after purchasing an additional 75,775 shares during the last quarter. Finally, Farallon Capital Management LLC purchased a new position in Amylyx Pharmaceuticals during the first quarter worth about $3,267,000. Hedge funds and other 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.