Amylyx Pharmaceuticals (NASDAQ:AMLX) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a report issued on Wednesday morning,Benzinga reports. HC Wainwright currently has a $34.00 price target on the stock.

Several other equities research analysts also recently issued reports on AMLX. Guggenheim raised their price target on Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Stifel Nicolaus started coverage on Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price objective for the company. Bank of America increased their target price on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Finally, Wall Street Zen raised Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Amylyx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.11.

Amylyx Pharmaceuticals Trading Up 1.2%

Shares of Amylyx Pharmaceuticals stock opened at $13.83 on Wednesday. The firm has a fifty day simple moving average of $14.47 and a 200-day simple moving average of $13.69. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -8.92 and a beta of -0.31. Amylyx Pharmaceuticals has a 1-year low of $3.11 and a 1-year high of $17.49.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. As a group, research analysts predict that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Transactions at Amylyx Pharmaceuticals

In other news, CEO Justin B. Klee sold 1,995 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.89, for a total transaction of $27,710.55. Following the transaction, the chief executive officer owned 3,379,398 shares in the company, valued at approximately $46,939,838.22. The trade was a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joshua B. Cohen sold 136,193 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $13.59, for a total transaction of $1,850,862.87. Following the completion of the sale, the chief executive officer owned 3,378,621 shares of the company’s stock, valued at approximately $45,915,459.39. The trade was a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 151,203 shares of company stock worth $2,028,385. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Alpha Wave Global LP increased its position in shares of Amylyx Pharmaceuticals by 47.3% during the second quarter. Alpha Wave Global LP now owns 275,842 shares of the company’s stock valued at $1,768,000 after purchasing an additional 88,531 shares during the period. TFG Asset Management GP Ltd bought a new position in Amylyx Pharmaceuticals in the second quarter worth $1,402,000. Maven Securities LTD acquired a new stake in Amylyx Pharmaceuticals during the third quarter worth $951,000. Commodore Capital LP acquired a new stake in Amylyx Pharmaceuticals during the third quarter worth $55,386,000. Finally, First Light Asset Management LLC bought a new stake in Amylyx Pharmaceuticals in the 3rd quarter valued at $45,606,000. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.