Amylyx Pharmaceuticals (NASDAQ:AMLX) Receives “Buy” Rating from HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $34.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 148.90% from the company’s previous close.

AMLX has been the subject of a number of other research reports. Wall Street Zen upgraded Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Guggenheim upped their target price on Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Bank of America lifted their price target on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Stifel Nicolaus began coverage on Amylyx Pharmaceuticals in a report on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Amylyx Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $20.11.

Amylyx Pharmaceuticals Price Performance

AMLX stock opened at $13.66 on Wednesday. The company has a market capitalization of $1.51 billion, a P/E ratio of -8.81 and a beta of -0.31. Amylyx Pharmaceuticals has a 12 month low of $3.11 and a 12 month high of $17.49. The firm’s fifty day simple moving average is $14.47 and its 200-day simple moving average is $13.69.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. As a group, sell-side analysts forecast that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 1,995 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $13.89, for a total value of $27,710.55. Following the sale, the chief executive officer directly owned 3,379,398 shares of the company’s stock, valued at approximately $46,939,838.22. This trade represents a 0.06% 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 hyperlink. Also, CEO Joshua B. Cohen sold 1,974 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $13.83, for a total value of $27,300.42. Following the transaction, the chief executive officer directly owned 3,379,465 shares of the company’s stock, valued at approximately $46,738,000.95. The trade was a 0.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 151,203 shares of company stock valued at $2,028,385. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors have recently modified their holdings of AMLX. Commodore Capital LP purchased a new position in shares of Amylyx Pharmaceuticals in the third quarter valued at approximately $55,386,000. First Light Asset Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the third quarter worth approximately $45,606,000. Adage Capital Partners GP L.L.C. increased its position in shares of Amylyx Pharmaceuticals by 54.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after purchasing an additional 3,102,395 shares in the last quarter. Millennium Management LLC raised its stake in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after purchasing an additional 2,487,617 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Amylyx Pharmaceuticals by 76.1% in the 4th quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company’s stock valued at $53,992,000 after purchasing an additional 1,929,639 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.