Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded at Wolfe Research

Key Points

• Wolfe Research upgraded Amylyx Pharmaceuticals to “strong buy,” adding to generally positive analyst coverage. The stock has an average “buy” rating and a consensus price target of $30.25, though targets range as high as $55.
• AMLX opened at $35.11, near its 52-week high of $35.39, after significant gains; its market capitalization stood at approximately $3.91 billion.
• The company reported quarterly EPS of -$0.39, missing expectations of -$0.36, and analysts expect a full-year loss of about $1.45 per share. An insider also sold 15,000 shares, while institutional investors own 95.84% of the stock.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) was upgraded by stock analysts at Wolfe Research to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on AMLX. HC Wainwright lifted their price objective on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Citigroup boosted their price target on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Guggenheim upped their price target on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Finally, Mizuho set a $42.00 price objective on Amylyx Pharmaceuticals in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Amylyx Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $30.25.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $35.11 on Monday. Amylyx Pharmaceuticals has a fifty-two week low of $7.63 and a fifty-two week high of $35.39. The business has a 50-day moving average of $18.88 and a 200-day moving average of $16.19. The company has a market capitalization of $3.91 billion, a PE ratio of -24.55 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). On average, equities research analysts expect that Amylyx Pharmaceuticals will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the sale, the insider owned 194,090 shares in the company, valued at $3,555,728.80. This represents a 7.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMLX. Meeder Asset Management Inc. bought a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $25,000. KBC Group NV acquired a new position in Amylyx Pharmaceuticals during the 1st quarter valued at $26,000. California State Teachers Retirement System bought a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at $28,000. State of Wyoming acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Amylyx Pharmaceuticals by 954.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock worth $47,000 after purchasing an additional 3,493 shares during the last quarter. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals News Roundup

Here are the key news stories impacting Amylyx Pharmaceuticals this week:

• Positive Sentiment: Phase 3 success provides a major catalyst. Avexitide met both the trial’s primary and secondary endpoints, reducing episodes of dangerously low blood sugar in patients who developed PBH following weight-loss surgery. The results strengthen the case for regulatory approval and potential commercialization. Reuters article
• Positive Sentiment: Analyst support increased following the trial announcement. H.C. Wainwright raised its price target from $34 to $55 and maintained a “buy” rating, reflecting greater confidence in avexitide’s commercial opportunity. Street Insider article
• Positive Sentiment: Investor expectations for commercialization have risen. Coverage characterized avexitide as moving closer to the market, helping drive unusually heavy trading activity and the stock’s sharp advance. Yahoo Finance article
• Neutral Sentiment: Trading in AMLX was temporarily halted for pending news before the trial results were released, highlighting the market-moving significance of the announcement. The company is expected to provide additional details through its clinical update and conference call. Business Wire article
• Negative Sentiment: Valuation and execution risks have increased after the sharp rally. Some commentary argued that investors should consider selling because the trial result may already be reflected in the stock. Avexitide still faces regulatory review, launch execution, and commercial-uptake risks; Mizuho’s $30 “outperform” target is below the current trading level. Invezz article

Amylyx Pharmaceuticals Company Profile

At Amylyx, our mission is to usher in a new era of treating diseases with high unmet needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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