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

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 232.41% from the company’s previous close.

A number of other equities research analysts have also issued reports on AMLX. Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their target price for the stock 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 research note on Monday, November 18th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amylyx Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $7.33.

Amylyx Pharmaceuticals Trading Up 7.4 %

AMLX opened at $3.61 on Wednesday. The stock’s 50-day moving average price is $3.53 and its 200 day moving average price is $3.85. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.18. The firm has a market cap of $247.46 million, a price-to-earnings ratio of -0.95 and a beta of -0.54.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million for the quarter. On average, research analysts forecast that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Joshua B. Cohen sold 11,851 shares of Amylyx Pharmaceuticals stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.47, for a total transaction of $41,122.97. Following the completion of the sale, the chief executive officer now directly owns 3,201,247 shares of the company’s stock, valued at approximately $11,108,327.09. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Justin B. Klee sold 7,471 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the transaction, the chief executive officer now directly owns 3,176,788 shares in the company, valued at $12,834,223.52. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,169 shares of company stock worth $97,274 in the last 90 days. Corporate insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boxer Capital Management LLC acquired a new position in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $6,615,000. Bank of America Corp DE lifted its position in shares of Amylyx Pharmaceuticals by 165.9% during the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after buying an additional 1,513,748 shares during the last quarter. Alpha Wave Global LP acquired a new position in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at $2,169,000. Walleye Capital LLC grew its position in shares of Amylyx Pharmaceuticals by 986.5% in the 3rd quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after buying an additional 608,874 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Amylyx Pharmaceuticals by 862.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company’s stock worth $1,786,000 after acquiring an additional 423,316 shares in the last quarter. 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.