Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target upped by equities researchers at Robert W. Baird from $10.00 to $19.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 27.09% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Guggenheim boosted their target price on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. UBS Group raised Amylyx Pharmaceuticals to a “hold” rating in a research report on Tuesday, June 24th. The Goldman Sachs Group lifted their price target on Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Jefferies Financial Group initiated coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a “hold” rating on the stock. Finally, Wall Street Zen raised Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.75.

Amylyx Pharmaceuticals Stock Down 1.5%

AMLX stock opened at $14.95 on Thursday. The business has a 50 day moving average price of $11.56 and a 200 day moving average price of $7.73. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -5.98 and a beta of -0.33. Amylyx Pharmaceuticals has a fifty-two week low of $2.60 and a fifty-two week high of $15.94.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). As a group, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insiders Place Their Bets

In other news, CFO James M. Frates sold 10,558 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.65, for a total value of $154,674.70. Following the transaction, the chief financial officer owned 280,430 shares of the company’s stock, valued at approximately $4,108,299.50. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gina Mazzariello sold 8,828 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $14.58, for a total value of $128,712.24. Following the completion of the transaction, the insider directly owned 148,141 shares in the company, valued at approximately $2,159,895.78. The trade was a 5.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,333 shares of company stock valued at $1,319,495. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Marex Group plc purchased a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $128,000. Perceptive Advisors LLC boosted its stake in shares of Amylyx Pharmaceuticals by 0.4% in the second quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company’s stock valued at $50,654,000 after buying an additional 28,017 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Amylyx Pharmaceuticals by 433.2% in the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after buying an additional 5,904 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Amylyx Pharmaceuticals by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock valued at $56,408,000 after buying an additional 3,102,395 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Amylyx Pharmaceuticals by 643.6% in the second quarter. Ameriprise Financial Inc. now owns 95,219 shares of the company’s stock valued at $610,000 after buying an additional 82,414 shares in the last quarter. Institutional investors and hedge funds 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.