Amylyx Pharmaceuticals (AMLX) Expected to Announce Quarterly Earnings on Thursday

Amylyx Pharmaceuticals (NASDAQ:AMLX) is projected to announce its earnings results before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.49) per share for the quarter.

Amylyx Pharmaceuticals Stock Down 9.1 %

Shares of Amylyx Pharmaceuticals stock opened at $3.00 on Tuesday. The company has a market cap of $205.65 million, a PE ratio of -0.79 and a beta of -0.54. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95. The business has a 50 day moving average price of $3.67 and a 200-day moving average price of $3.81.

Insider Activity at Amylyx Pharmaceuticals

In related news, CEO Joshua B. Cohen sold 11,851 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Justin B. Klee sold 7,471 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,176,788 shares of the company’s stock, valued at $12,834,223.52. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,000 shares of company stock valued at $84,142. 11.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AMLX. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Finally, Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.33.

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.