Amylyx Pharmaceuticals (NASDAQ:AMLX) Lowered to Sell Rating by Wall Street Zen

Amylyx Pharmaceuticals (NASDAQ:AMLX) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other equities analysts have also issued reports on AMLX. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. Mizuho boosted their target price on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. HC Wainwright boosted their target price on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, TD Cowen initiated coverage on shares of Amylyx Pharmaceuticals in a research note on Friday, May 30th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX opened at $5.52 on Friday. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $7.27. The company has a 50-day simple moving average of $4.78 and a two-hundred day simple moving average of $4.15. The firm has a market capitalization of $492.06 million, a PE ratio of -1.45 and a beta of -0.59.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.03. Analysts expect that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 21,490 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $74,570.30. Following the completion of the transaction, the chief executive officer now owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bernhardt G. Zeiher purchased 10,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $3.70 per share, with a total value of $37,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $37,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 44,811 shares of company stock valued at $155,494. Insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Several large investors have recently bought and sold shares of AMLX. Adage Capital Partners GP L.L.C. purchased a new position in shares of Amylyx Pharmaceuticals during the 1st quarter worth approximately $20,170,000. Millennium Management LLC raised its holdings in shares of 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 in the last quarter. Nantahala Capital Management LLC raised its holdings in shares of Amylyx Pharmaceuticals by 102.1% in the 1st quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company’s stock valued at $10,388,000 after purchasing an additional 1,482,252 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of Amylyx Pharmaceuticals by 41.1% in the 1st quarter. Aberdeen Group plc now owns 2,430,358 shares of the company’s stock valued at $8,603,000 after purchasing an additional 707,553 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Amylyx Pharmaceuticals by 165.9% in the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock valued at $9,171,000 after buying an additional 1,513,748 shares during the last quarter. Hedge funds and other 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.