HC Wainwright Reaffirms Buy Rating for Amylyx Pharmaceuticals (NASDAQ:AMLX)

HC Wainwright reiterated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $12.00 price target on the stock.

A number of other research firms also recently commented on AMLX. 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 research note on Wednesday, October 23rd. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amylyx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $11.43.

Amylyx Pharmaceuticals Stock Down 5.5 %

AMLX stock opened at $4.97 on Thursday. The company has a market cap of $340.69 million, a PE ratio of -1.30 and a beta of -0.68. The business has a 50-day simple moving average of $4.84 and a 200 day simple moving average of $3.03. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95.

Insider Transactions at Amylyx Pharmaceuticals

In other news, CEO Justin B. Klee sold 18,589 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the sale, the chief executive officer now directly owns 3,120,569 shares in the company, valued at approximately $9,985,820.80. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Camille L. Bedrosian sold 11,442 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 143,801 shares in the company, valued at $460,163.20. The trade was a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Amylyx Pharmaceuticals by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company’s stock worth $15,189,000 after purchasing an additional 72,573 shares during the period. AQR Capital Management LLC raised its position in shares of 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 raised its position 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 worth $6,390,000 after purchasing an additional 1,853,995 shares during the period. Almitas Capital LLC acquired a new position in shares of Amylyx Pharmaceuticals during the second quarter worth approximately $3,617,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Amylyx Pharmaceuticals during the second quarter worth approximately $2,300,000. 95.84% of the stock is currently owned by institutional investors.

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.