Amylyx Pharmaceuticals (NASDAQ:AMLX) Given New $12.00 Price Target at HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its price target upped by equities research analysts at HC Wainwright from $8.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 79.10% from the company's previous close.

Several other brokerages have also issued reports on AMLX. The Goldman Sachs Group increased their price target on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a "neutral" rating in a report on Friday, July 12th. Bank of America upgraded Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and increased their target price for the stock from $4.20 to $10.00 in a report on Wednesday, October 23rd. Finally, Leerink Partners set a $4.00 price target on shares of Amylyx Pharmaceuticals and gave the company a "market perform" rating in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Amylyx Pharmaceuticals currently has an average rating of "Hold" and an average target price of $15.14.

Amylyx Pharmaceuticals Trading Up 2.4 %

AMLX stock traded up $0.16 during mid-day trading on Friday, reaching $6.70. The company's stock had a trading volume of 1,955,322 shares, compared to its average volume of 2,023,768. The company has a market cap of $456.15 million, a price-to-earnings ratio of -2.91 and a beta of -0.70. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95. The business's 50 day moving average price is $3.58 and its 200 day moving average price is $2.49.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. The company had revenue of ($1.02) million for the quarter, compared to analyst estimates of $18.83 million. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, equities analysts expect that Amylyx Pharmaceuticals will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the completion of the sale, the insider now directly owns 143,801 shares of the company's stock, valued at approximately $460,163.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Justin B. Klee sold 18,589 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $59,484.80. Following the completion of the transaction, the chief executive officer now directly owns 3,120,569 shares of the company's stock, valued at $9,985,820.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Camille L. Bedrosian sold 11,442 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the sale, the insider now owns 143,801 shares of the company's stock, valued at approximately $460,163.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently bought and sold shares of AMLX. Vanguard Group Inc. grew its stake in shares of Amylyx Pharmaceuticals by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company's stock worth $15,189,000 after acquiring an additional 72,573 shares during the period. AQR Capital Management LLC boosted its position in Amylyx Pharmaceuticals by 2,768.0% during the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company's stock worth $6,348,000 after purchasing an additional 3,224,454 shares during the period. abrdn plc increased its stake in shares of Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company's stock worth $6,390,000 after purchasing an additional 1,853,995 shares in the last quarter. Almitas Capital LLC bought a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $3,617,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $2,300,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

About Amylyx Pharmaceuticals

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.