Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Rating Upgraded by Bank of America

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a $10.00 price objective on the stock, up from their prior price objective of $4.20. Bank of America‘s target price points to a potential upside of 104.08% from the stock’s previous close.

A number of other analysts also recently issued reports on AMLX. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Amylyx Pharmaceuticals in a report on Friday, October 18th. Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group increased their price target on shares of 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.57.

Amylyx Pharmaceuticals Trading Down 1.2 %

NASDAQ:AMLX opened at $4.90 on Wednesday. The firm has a market capitalization of $333.23 million, a price-to-earnings ratio of -4.58 and a beta of -0.55. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.95. The business’s 50-day moving average price is $2.93 and its two-hundred day moving average price is $2.26.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.73) earnings per share 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 for the quarter, compared to the consensus estimate of $18.83 million. During the same period in the previous year, the business earned $0.31 EPS. Sell-side analysts predict that Amylyx Pharmaceuticals will post -2.27 earnings per share 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George M. Milne, Jr. purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. Corporate insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in Amylyx Pharmaceuticals by 52,575.9% in 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 in the last quarter. Algert Global LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $47,000. CWM LLC boosted its stake in shares of Amylyx Pharmaceuticals by 104.2% in the second quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after buying an additional 14,613 shares during the period. SG Americas Securities LLC grew 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 worth $106,000 after buying an additional 29,697 shares in the last quarter. Finally, Hsbc Holdings PLC grew 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 worth $150,000 after buying an additional 27,954 shares in the last quarter. 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.