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

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued on Friday, MarketBeat reports. They presently have a $8.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 67.36% from the stock’s current price.

Separately, The Goldman Sachs Group upped their price target on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.33.

Amylyx Pharmaceuticals Trading Up 21.9 %

Amylyx Pharmaceuticals stock opened at $4.78 on Friday. The company has a market capitalization of $325.07 million, a price-to-earnings 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. The business’s fifty day simple moving average is $2.77 and its two-hundred day simple moving average is $2.22.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $18.83 million. Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. During the same period in the previous year, the company earned $0.31 earnings per share. On average, equities research analysts predict that Amylyx Pharmaceuticals will post -2.27 EPS for the current year.

Insider Activity at Amylyx Pharmaceuticals

In other news, Director George M. Milne, Jr. acquired 100,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 858,571 shares in the company, valued at $1,888,856.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the completion of the sale, the chief executive officer now owns 3,120,569 shares in the company, valued at $9,985,820.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George M. Milne, Jr. purchased 100,000 shares of Amylyx Pharmaceuticals stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the transaction, the director now owns 858,571 shares of the company’s stock, valued at approximately $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 Trading of Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in Amylyx Pharmaceuticals by 52,575.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after buying an additional 15,247 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth about $47,000. CWM LLC grew its position in shares of Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after purchasing an additional 14,613 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after purchasing an additional 29,697 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Amylyx Pharmaceuticals by 57.9% during the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock worth $150,000 after purchasing an additional 27,954 shares in the last quarter. 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.