Amylyx Pharmaceuticals (NASDAQ:AMLX) Rating Increased to Outperform at Mizuho

Mizuho upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a neutral rating to an outperform rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $7.00 price target on the stock, up from their previous price target of $3.00.

Separately, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Amylyx Pharmaceuticals Stock Up 0.9 %

Amylyx Pharmaceuticals stock opened at $3.46 on Monday. The stock has a 50-day simple moving average of $3.55 and a 200 day simple moving average of $4.07. The stock has a market capitalization of $306.56 million, a price-to-earnings ratio of -0.91 and a beta of -0.53. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million for the quarter. As a group, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 11,851 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.47, for a total value of $41,122.97. Following the transaction, the chief executive officer now owns 3,201,247 shares of the company’s stock, valued at approximately $11,108,327.09. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James M. Frates sold 10,896 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $37,809.12. Following the transaction, the chief financial officer now owns 290,988 shares in the company, valued at approximately $1,009,728.36. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,509 shares of company stock valued at $222,586. 11.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several large investors have recently bought and sold shares of AMLX. FMR LLC boosted its position in shares of Amylyx Pharmaceuticals by 292.0% during the third quarter. FMR LLC now owns 221,001 shares of the company’s stock worth $716,000 after purchasing an additional 164,622 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Amylyx Pharmaceuticals by 144.4% during the third quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock worth $455,000 after acquiring an additional 83,048 shares in the last quarter. Barclays PLC lifted its holdings in Amylyx Pharmaceuticals by 91.1% during the third quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after acquiring an additional 40,319 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Amylyx Pharmaceuticals in the fourth quarter valued at about $56,000. Finally, Geode Capital Management LLC increased its holdings in shares of Amylyx Pharmaceuticals by 17.5% in the third quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after acquiring an additional 82,173 shares in the last quarter. Institutional investors own 95.84% of the company’s stock.

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.