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

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $12.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 128.14% from the company’s previous close.

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

Amylyx Pharmaceuticals Price Performance

AMLX opened at $5.26 on Thursday. The stock has a market capitalization of $360.57 million, a price-to-earnings ratio of -1.38 and a beta of -0.68. The business has a 50-day moving average of $4.80 and a two-hundred day moving average of $3.01. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95.

Insider Buying and Selling

In related news, CEO Justin B. Klee sold 18,589 shares of the business’s 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 $59,484.80. Following the transaction, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at approximately $9,985,820.80. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James M. Frates purchased 40,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $2.53 per share, for a total transaction of $101,200.00. Following the completion of the transaction, the chief financial officer now directly owns 233,464 shares in the company, valued at $590,663.92. This represents a 20.68 % increase in their position. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently made changes to their positions in AMLX. China Universal Asset Management Co. Ltd. raised its position in shares of Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after purchasing an additional 5,104 shares in the last quarter. Algert Global LLC acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $47,000. CWM LLC raised its position in shares of Amylyx Pharmaceuticals by 104.2% in the 2nd quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after purchasing an additional 14,613 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Amylyx Pharmaceuticals by 88.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock valued at $55,000 after purchasing an additional 13,509 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Amylyx Pharmaceuticals by 113.6% in the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after purchasing an additional 29,697 shares in the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

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.