Amylyx Pharmaceuticals’ (AMLX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

AMLX has been the topic of several other reports. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research report on Friday, October 18th. Robert W. Baird upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their target price for the company from $3.00 to $11.00 in a report on Monday, November 18th. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.43.

Amylyx Pharmaceuticals Stock Up 3.4 %

AMLX opened at $5.14 on Thursday. The company has a 50 day moving average of $4.88 and a two-hundred day moving average of $3.06. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $19.95. The company has a market cap of $352.35 million, a P/E ratio of -1.35 and a beta of -0.68.

Insider Buying and Selling

In related news, insider Camille L. Bedrosian sold 11,442 shares of the business’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 $36,614.40. Following the completion of the sale, the insider now directly owns 143,801 shares of the company’s stock, valued at $460,163.20. The trade was a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Justin B. Klee sold 18,589 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 value of $59,484.80. Following the transaction, the chief executive officer now directly owns 3,120,569 shares in the company, valued at approximately $9,985,820.80. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in shares of Amylyx Pharmaceuticals by 2,768.0% during the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after purchasing an additional 3,224,454 shares during the last quarter. Almitas Capital LLC bought a new position in Amylyx Pharmaceuticals during the 2nd quarter worth $3,617,000. abrdn plc increased its position in Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after buying an additional 1,853,995 shares during the period. Acadian Asset Management LLC bought a new stake in Amylyx Pharmaceuticals in the second quarter valued at $2,300,000. Finally, Alpha Wave Global LP acquired a new position in shares of Amylyx Pharmaceuticals during the third quarter valued at $2,169,000. 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.