Amylyx Pharmaceuticals’ (AMLX) Buy Rating Reaffirmed at HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 349.44% from the company’s previous close.

AMLX has been the topic of several other research reports. Evercore ISI restated an “in-line” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, March 8th. Robert W. Baird downgraded Amylyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research report on Monday, March 11th. Mizuho decreased their target price on Amylyx Pharmaceuticals from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. SVB Leerink downgraded Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, March 11th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, March 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Hold” and an average target price of $28.67.

Amylyx Pharmaceuticals Trading Up 7.9 %

Shares of AMLX stock opened at $1.78 on Monday. The company has a market capitalization of $121.06 million, a P/E ratio of -1.66 and a beta of -0.68. The business’s 50 day moving average is $1.81 and its two-hundred day moving average is $8.50. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $25.48.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.70). The business had revenue of $88.64 million for the quarter, compared to analysts’ expectations of $113.26 million. Amylyx Pharmaceuticals had a positive return on equity of 4.14% and a negative net margin of 17.86%. During the same quarter in the prior year, the company posted $0.02 EPS. On average, research analysts predict that Amylyx Pharmaceuticals will post -1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake 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 worth $43,000 after acquiring an additional 15,247 shares during the last quarter. Quest Partners LLC acquired a new stake in Amylyx Pharmaceuticals during the fourth quarter worth $89,000. China Universal Asset Management Co. Ltd. increased its stake in Amylyx Pharmaceuticals by 351.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,815 shares of the company’s stock worth $115,000 after acquiring an additional 6,085 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Amylyx Pharmaceuticals by 69.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,389 shares of the company’s stock worth $153,000 after acquiring an additional 4,255 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in Amylyx Pharmaceuticals during the fourth quarter worth $166,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.