Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price upped by HC Wainwright from $20.00 to $28.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 95.12% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Lifesci Capital raised Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 27th. Citigroup upped their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Finally, Robert W. Baird increased their price target on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

Amylyx Pharmaceuticals Trading Down 3.6%

AMLX opened at $14.35 on Tuesday. Amylyx Pharmaceuticals has a 12 month low of $2.60 and a 12 month high of $17.49. The company has a market cap of $1.58 billion, a PE ratio of -7.97 and a beta of -0.31. The company has a 50 day moving average of $13.40 and a 200 day moving average of $12.49.

Insiders Place Their Bets

In related news, insider Camille L. Bedrosian sold 6,580 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $14.35, for a total transaction of $94,423.00. Following the transaction, the insider directly owned 175,756 shares in the company, valued at $2,522,098.60. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Firestone purchased 8,100 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was bought at an average cost of $12.45 per share, for a total transaction of $100,845.00. Following the completion of the purchase, the director directly owned 63,100 shares in the company, valued at approximately $785,595. This trade represents a 14.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 157,783 shares of company stock valued at $2,122,808 over the last three months. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMLX. Commodore Capital LP bought a new stake in Amylyx Pharmaceuticals during the 3rd quarter valued at $55,386,000. First Light Asset Management LLC bought a new stake in shares of Amylyx Pharmaceuticals in the third quarter worth about $45,606,000. Adage Capital Partners GP L.L.C. increased its holdings in Amylyx Pharmaceuticals by 54.5% during the 2nd 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 purchasing an additional 3,102,395 shares during the period. Millennium Management LLC lifted its holdings in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after buying an additional 2,487,617 shares during the period. Finally, Paradigm Biocapital Advisors LP purchased a new stake in Amylyx Pharmaceuticals in the 3rd quarter worth approximately $25,821,000. 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.