Robert W. Baird Upgrades Amylyx Pharmaceuticals (NASDAQ:AMLX) to "Outperform"

Robert W. Baird upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) from a neutral rating to an outperform rating in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has $11.00 price target on the stock, up from their prior price target of $3.00.

A number of other analysts have also recently issued reports on the company. HC Wainwright boosted their price objective on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Bank of America upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price objective for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Finally, Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the stock a "market perform" rating in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has an average rating of "Hold" and an average target price of $11.43.

Amylyx Pharmaceuticals Trading Up 11.3 %

NASDAQ:AMLX traded up $0.54 during trading hours on Monday, hitting $5.30. 2,867,518 shares of the company traded hands, compared to its average volume of 2,026,944. The stock has a market capitalization of $363.32 million, a price-to-earnings ratio of -1.45 and a beta of -0.70. The firm has a 50-day moving average of $4.12 and a 200 day moving average of $2.70. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.95.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, Director George M. Milne, Jr. acquired 100,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the transaction, the director now owns 858,571 shares in the company, valued at approximately $1,888,856.20. The trade was a 13.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO James M. Frates bought 40,000 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average price of $2.53 per share, for a total transaction of $101,200.00. Following the transaction, the chief financial officer now owns 233,464 shares in the company, valued at $590,663.92. This represents a 20.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company's stock valued at $6,348,000 after buying an additional 3,224,454 shares during the period. Almitas Capital LLC acquired a new stake in Amylyx Pharmaceuticals in the second quarter valued at approximately $3,617,000. abrdn plc increased its holdings in shares of Amylyx Pharmaceuticals by 1,567.9% during the third quarter. abrdn plc now owns 1,972,242 shares of the company's stock valued at $6,390,000 after acquiring an additional 1,853,995 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth about $2,300,000. Finally, Farallon Capital Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at about $3,267,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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.