Amylyx Pharmaceuticals' (AMLX) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $8.00 target price on the stock.

Separately, The Goldman Sachs Group increased their target price on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a "neutral" rating in a research note on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $15.33.

Amylyx Pharmaceuticals Stock Up 21.9 %

NASDAQ AMLX traded up $0.86 on Friday, reaching $4.78. 4,821,744 shares of the stock traded hands, compared to its average volume of 2,055,611. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95. The firm's fifty day simple moving average is $2.77 and its 200 day simple moving average is $2.22. The company has a market cap of $325.07 million, a price-to-earnings ratio of -4.47 and a beta of -0.55.

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 return on equity of 15.51% and a negative net margin of 17.86%. The firm had revenue of ($1.02) million for the quarter, compared to analyst estimates of $18.83 million. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, equities research analysts forecast that Amylyx Pharmaceuticals will post -2.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director George M. Milne, Jr. purchased 100,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the acquisition, the director now directly owns 858,571 shares of the company's stock, valued at $1,888,856.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Amylyx Pharmaceuticals news, CFO James M. Frates acquired 40,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost 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 of the company's stock, valued at $590,663.92. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George M. Milne, Jr. bought 100,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now directly owns 858,571 shares in the company, valued at $1,888,856.20. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 11.70% of the company's stock.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMLX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth approximately $156,000. Maven Securities LTD increased its stake in shares of Amylyx Pharmaceuticals by 300.0% in the second quarter. Maven Securities LTD now owns 100,000 shares of the company's stock worth $190,000 after acquiring an additional 75,000 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth $47,000. Almitas Capital LLC acquired a new stake in Amylyx Pharmaceuticals during the second quarter valued at $3,617,000. Finally, 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 valued at $6,348,000 after purchasing an additional 3,224,454 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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.