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

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

Other research analysts have also recently issued reports about the stock. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock 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 raised their price target for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, HC Wainwright raised their target price on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $11.43.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock opened at $5.30 on Monday. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $19.95. The company has a market cap of $363.32 million, a P/E ratio of -1.39 and a beta of -0.70. The firm has a fifty day moving average of $4.17 and a two-hundred day moving average of $2.72.

Insider Buying and Selling at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 18,589 shares of Amylyx Pharmaceuticals 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 $59,484.80. Following the completion of the transaction, the chief executive officer now directly owns 3,120,569 shares in the company, valued at $9,985,820.80. The trade was a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the insider now owns 143,801 shares in the company, valued at approximately $460,163.20. This trade represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 valued at $42,000 after acquiring an additional 5,104 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Amylyx Pharmaceuticals by 52,575.9% in the 1st 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 in the last quarter. Algert Global LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $47,000. CWM LLC grew its holdings in shares of 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 raised its position in shares of Amylyx Pharmaceuticals by 113.6% in the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after buying an additional 29,697 shares during the last quarter. 95.84% of the stock is 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.