Baird R W Upgrades Amylyx Pharmaceuticals (NASDAQ:AMLX) to Strong-Buy

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) was upgraded by Baird R W from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $3.00 to $11.00 in a report on Monday. Bank of America raised Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and boosted their price target for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the company a "market perform" rating in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $11.43.

Amylyx Pharmaceuticals Stock Down 1.5 %

Shares of NASDAQ:AMLX traded down $0.08 during midday trading on Monday, reaching $5.22. The company's stock had a trading volume of 2,072,390 shares, compared to its average volume of 2,027,151. The stock has a fifty day moving average of $4.17 and a 200 day moving average of $2.72. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.95. The firm has a market capitalization of $357.83 million, a PE ratio of -1.37 and a beta of -0.70.

Insider Buying and Selling

In other news, Director George M. Milne, Jr. purchased 100,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 858,571 shares of the company's stock, valued at $1,888,856.20. This trade represents a 13.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the completion of the transaction, the insider now directly owns 143,801 shares of the company's stock, valued at approximately $460,163.20. This represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of large investors have recently modified their holdings of AMLX. China Universal Asset Management Co. Ltd. boosted its position in Amylyx Pharmaceuticals by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company's stock worth $42,000 after acquiring an additional 5,104 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Amylyx Pharmaceuticals by 52,575.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company's stock valued at $43,000 after purchasing an additional 15,247 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $47,000. CWM LLC lifted its position in Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company's stock worth $54,000 after buying an additional 14,613 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company's stock worth $106,000 after buying an additional 29,697 shares during 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.