Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $16.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target raised by HC Wainwright from $12.00 to $16.00 in a report released on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the company from $4.00 to $10.00 in a research report on Wednesday, May 7th. Mizuho raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $3.00 to $7.00 in a research note on Monday, April 7th. Finally, Leerink Partnrs upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $9.67.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $4.61 on Friday. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $7.27. The firm’s 50 day simple moving average is $4.04 and its two-hundred day simple moving average is $4.22. The stock has a market capitalization of $410.68 million, a P/E ratio of -1.21 and a beta of -0.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. As a group, equities analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 12,425 shares of the firm’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 $43,114.75. Following the completion of the sale, the insider now directly owns 194,375 shares of the company’s stock, valued at approximately $674,481.25. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bernhardt G. Zeiher acquired 10,000 shares of the stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $3.70 per share, with a total value of $37,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $37,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 48,980 shares of company stock worth $168,627 in the last 90 days. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in shares of Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after buying an additional 4,883 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Amylyx Pharmaceuticals in the 1st quarter valued at approximately $35,000. Fox Run Management L.L.C. bought a new position in Amylyx Pharmaceuticals in the 4th quarter valued at approximately $45,000. Alpine Global Management LLC purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at $45,000. Finally, R Squared Ltd increased its holdings in shares of Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock worth $45,000 after purchasing an additional 6,366 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.