Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $16.00 at HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its target price increased by investment analysts at HC Wainwright from $12.00 to $16.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 256.35% from the company's previous close.

A number of other research analysts have also issued reports on the stock. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and upped their price target for the company from $4.00 to $10.00 in a research report on Wednesday, May 7th. Finally, Mizuho upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $3.00 to $7.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $9.67.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock traded down $0.11 during midday trading on Friday, hitting $4.49. 893,384 shares of the company traded hands, compared to its average volume of 1,224,527. The firm's fifty day moving average price is $4.07 and its 200-day moving average price is $4.21. The stock has a market cap of $399.99 million, a price-to-earnings ratio of -1.18 and a beta of -0.60. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.03. Equities research analysts forecast that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Activity

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 21,490 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $74,570.30. Following the transaction, the chief executive officer now directly owns 3,355,280 shares of the company's stock, valued at approximately $11,642,821.60. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James M. Frates sold 10,896 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $37,809.12. Following the transaction, the chief financial officer now owns 290,988 shares in the company, valued at $1,009,728.36. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,980 shares of company stock valued at $168,627 in the last ninety days. 11.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Aberdeen Group plc raised its position in shares of Amylyx Pharmaceuticals by 41.1% during the first quarter. Aberdeen Group plc now owns 2,430,358 shares of the company's stock worth $8,603,000 after purchasing an additional 707,553 shares during the period. Bank of America Corp DE raised its holdings in Amylyx Pharmaceuticals by 165.9% during the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company's stock worth $9,171,000 after buying an additional 1,513,748 shares during the last quarter. Almitas Capital LLC lifted its stake in shares of Amylyx Pharmaceuticals by 2.2% in the fourth quarter. Almitas Capital LLC now owns 2,032,370 shares of the company's stock valued at $7,682,000 after buying an additional 43,807 shares in the last quarter. Boxer Capital Management LLC bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at $6,615,000. Finally, Nantahala Capital Management LLC grew its holdings in shares of Amylyx Pharmaceuticals by 3.4% during the fourth quarter. Nantahala Capital Management LLC now owns 1,452,153 shares of the company's stock valued at $5,489,000 after buying an additional 47,589 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.