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 report issued on Saturday.

A number of other analysts also recently commented on the company. Citigroup upped their target price on Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group upped their price objective on Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Robert W. Baird boosted their target price on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Guggenheim increased their price target on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Amylyx Pharmaceuticals Price Performance

AMLX stock opened at $12.02 on Friday. The company has a market capitalization of $1.32 billion, a P/E ratio of -6.68 and a beta of -0.34. Amylyx Pharmaceuticals has a 12 month low of $2.60 and a 12 month high of $16.96. The firm’s fifty day simple moving average is $13.79 and its 200-day simple moving average is $10.61.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.06. As a group, sell-side analysts forecast that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 8,828 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $14.58, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joshua B. Cohen sold 29,933 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $14.35, for a total transaction of $429,538.55. Following the completion of the sale, the chief executive officer owned 3,325,347 shares in the company, valued at $47,718,729.45. This represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,913 shares of company stock valued at $1,413,918 over the last quarter. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently bought and sold shares of AMLX. Aster Capital Management DIFC Ltd acquired a new stake in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at about $48,000. California State Teachers Retirement System acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $45,000. BNP Paribas Financial Markets lifted its stake in Amylyx Pharmaceuticals by 433.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after acquiring an additional 5,904 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth approximately $47,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.