HC Wainwright Research Analysts Cut Earnings Estimates for Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Posted by Defense World Staff on May 15th, 2023

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Rating) – Analysts at HC Wainwright lowered their FY2026 earnings estimates for Amylyx Pharmaceuticals in a research report issued to clients and investors on Friday, May 12th. HC Wainwright analyst A. Fein now expects that the company will post earnings per share of $3.35 for the year, down from their prior forecast of $3.66. HC Wainwright has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Amylyx Pharmaceuticals’ current full-year earnings is ($0.38) per share. HC Wainwright also issued estimates for Amylyx Pharmaceuticals’ FY2027 earnings at $4.69 EPS.

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) last issued its earnings results on Monday, March 13th. The company reported ($0.65) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.12. The company had revenue of $21.89 million during the quarter, compared to analyst estimates of $3.05 million.

AMLX has been the topic of a number of other research reports. The Goldman Sachs Group lifted their price target on shares of Amylyx Pharmaceuticals from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, March 14th. Mizuho assumed coverage on shares of Amylyx Pharmaceuticals in a report on Thursday, March 30th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Citigroup boosted their target price on shares of Amylyx Pharmaceuticals from $51.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, March 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $27.67 on Monday. Amylyx Pharmaceuticals has a fifty-two week low of $7.30 and a fifty-two week high of $41.93. The firm has a market capitalization of $1.86 billion, a P/E ratio of -8.07 and a beta of -0.84. The company’s 50 day moving average price is $30.12 and its two-hundred day moving average price is $34.04.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Patrick D. Yeramian sold 54,627 shares of Amylyx Pharmaceuticals stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $31.87, for a total value of $1,740,962.49. Following the completion of the sale, the insider now directly owns 149,672 shares of the company’s stock, valued at $4,770,046.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Justin B. Klee sold 100,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $31.86, for a total transaction of $3,186,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,792,617 shares of the company’s stock, valued at $88,972,777.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick D. Yeramian sold 54,627 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $31.87, for a total transaction of $1,740,962.49. Following the sale, the insider now directly owns 149,672 shares of the company’s stock, valued at $4,770,046.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 608,588 shares of company stock valued at $19,649,283. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in AMLX. China Universal Asset Management Co. Ltd. bought a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter worth about $25,000. Royal Bank of Canada boosted its holdings in Amylyx Pharmaceuticals by 36.2% during the third quarter. Royal Bank of Canada now owns 1,373 shares of the company’s stock worth $38,000 after purchasing an additional 365 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Amylyx Pharmaceuticals by 177.6% during the third quarter. Metropolitan Life Insurance Co NY now owns 2,207 shares of the company’s stock worth $62,000 after purchasing an additional 1,412 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Amylyx Pharmaceuticals by 79.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,719 shares of the company’s stock worth $64,000 after purchasing an additional 762 shares during the last quarter. Finally, CWM LLC purchased a new position in Amylyx Pharmaceuticals during the first quarter worth about $78,000. 70.55% of the stock is owned by institutional investors.

About Amylyx Pharmaceuticals

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Amylyx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis.