HC Wainwright Has Bearish Forecast for AMLX FY2029 Earnings

Key Points

• HC Wainwright lowered Amylyx Pharmaceuticals’ FY2029 EPS forecast to $1.66 from $1.79, while maintaining a “Buy” rating and a $34 price target. The firm forecasts FY2030 EPS of $3.74.
• Amylyx reported quarterly EPS of -$0.39, missing the consensus estimate of -$0.36.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $25.38, despite some sell ratings. The stock opened at $22.82 and has gained substantially from its 12-month low of $7.48.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) - Stock analysts at HC Wainwright lowered their FY2029 earnings per share estimates for Amylyx Pharmaceuticals in a research note issued to investors on Friday, August 7th. HC Wainwright analyst A. Fein now forecasts that the company will post earnings of $1.66 per share for the year, down from their previous forecast of $1.79. HC Wainwright currently has a "Buy" rating and a $34.00 price target on the stock. The consensus estimate for Amylyx Pharmaceuticals' current full-year earnings is ($1.39) per share. HC Wainwright also issued estimates for Amylyx Pharmaceuticals' FY2030 earnings at $3.74 EPS.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03).

Other research analysts have also recently issued reports about the stock. Mizuho lifted their price target on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the company an "outperform" rating in a research report on Monday, July 20th. Wall Street Zen cut Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Citigroup boosted their target price on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday. Finally, Guggenheim lifted their price target on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.38.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock opened at $22.82 on Monday. The company's fifty day moving average price is $17.36 and its 200-day moving average price is $15.77. The stock has a market cap of $2.54 billion, a PE ratio of -15.96 and a beta of -0.21. Amylyx Pharmaceuticals has a 12 month low of $7.48 and a 12 month high of $24.60.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in Amylyx Pharmaceuticals during the 4th quarter valued at about $25,000. KBC Group NV purchased a new position in shares of Amylyx Pharmaceuticals during the first quarter valued at approximately $26,000. California State Teachers Retirement System purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter valued at approximately $28,000. State of Wyoming bought a new position in Amylyx Pharmaceuticals during the second quarter valued at approximately $40,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Amylyx Pharmaceuticals by 954.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock valued at $47,000 after purchasing an additional 3,493 shares during the period. Hedge funds and other institutional investors own 95.84% of the company's stock.

Insider Activity

In related news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction 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 sale, the insider directly owned 194,090 shares of the company's stock, valued at $3,555,728.80. This trade represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.90% of the stock is currently owned by insiders.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx's research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company's lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.

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