Amylyx Pharmaceuticals (NASDAQ:AMLX) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Amylyx Pharmaceuticals received a "sell (e+)" rating from Weiss Ratings, while other analysts issued more favorable ratings, with target prices raised by firms like Robert W. Baird and Goldman Sachs.
• The company's stock price decreased by 1.0% on Friday, closing at $14.17, with a market capitalization of approximately $1.26 billion.
• Amylyx Pharmaceuticals reported a quarterly earnings miss, with EPS of ($0.46), failing to meet the consensus estimate of ($0.44).

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report)'s stock had its "sell (e+)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird lifted their target price on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, October 16th. Bank of America lifted their target price on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Wall Street Zen raised Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. The Goldman Sachs Group lifted their target price on Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Finally, Guggenheim lifted their target price on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Amylyx Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $16.75.

Amylyx Pharmaceuticals Stock Down 1.0%

AMLX traded down $0.14 during trading on Friday, hitting $14.17. The company's stock had a trading volume of 859,017 shares, compared to its average volume of 1,294,433. The firm's 50 day moving average price is $12.10 and its two-hundred day moving average price is $8.05. Amylyx Pharmaceuticals has a 12 month low of $2.60 and a 12 month high of $16.96. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.67 and a beta of -0.33.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.02). On average, sell-side analysts forecast that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 29,975 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $14.38, for a total value of $431,040.50. Following the completion of the transaction, the chief executive officer directly owned 3,325,301 shares of the company's stock, valued at approximately $47,817,828.38. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joshua B. Cohen sold 29,933 shares of the business's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $14.35, for a total value of $429,538.55. Following the completion of the transaction, the chief executive officer directly owned 3,325,347 shares of the company's stock, valued at approximately $47,718,729.45. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,333 shares of company stock valued at $1,319,495. Insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new position in Amylyx Pharmaceuticals in the second quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at about $45,000. BNP Paribas Financial Markets lifted its holdings in shares of Amylyx Pharmaceuticals by 433.2% in the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock valued at $47,000 after purchasing an additional 5,904 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at about $47,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at about $35,000. 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.

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