Mizuho Cuts Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target to $3.00

Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) had its target price cut by Mizuho from $4.00 to $3.00 in a research report released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently commented on AMLX. The Goldman Sachs Group reiterated a neutral rating on shares of Amylyx Pharmaceuticals in a research report on Friday, March 8th. SVB Leerink cut shares of Amylyx Pharmaceuticals from an outperform rating to a market perform rating in a research report on Monday, March 11th. Evercore ISI restated an in-line rating on shares of Amylyx Pharmaceuticals in a research report on Friday, March 8th. Leerink Partnrs cut shares of Amylyx Pharmaceuticals from an outperform rating to a market perform rating in a research report on Monday, March 11th. Finally, HC Wainwright restated a buy rating and issued a $8.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Friday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of Hold and an average target price of $28.67.

Amylyx Pharmaceuticals Stock Up 2.7 %

AMLX stock traded up $0.05 during trading on Tuesday, hitting $1.87. The company had a trading volume of 1,571,952 shares, compared to its average volume of 2,699,726. The firm has a 50-day moving average price of $3.43 and a 200-day moving average price of $11.10. Amylyx Pharmaceuticals has a 12 month low of $1.70 and a 12 month high of $29.24. The stock has a market cap of $127.18 million, a price-to-earnings ratio of -1.74 and a beta of -0.68.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.70). The company had revenue of $88.64 million during the quarter, compared to the consensus estimate of $113.26 million. Amylyx Pharmaceuticals had a positive return on equity of 4.14% and a negative net margin of 17.86%. During the same quarter last year, the firm earned $0.02 EPS. Equities analysts expect that Amylyx Pharmaceuticals will post -1.01 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joshua B. Cohen sold 4,135 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total transaction of $77,448.55. Following the completion of the transaction, the chief executive officer now directly owns 3,023,002 shares in the company, valued at approximately $56,620,827.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Gina Mazzariello sold 2,838 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $18.76, for a total value of $53,240.88. Following the completion of the sale, the insider now directly owns 46,245 shares in the company, valued at approximately $867,556.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua B. Cohen sold 4,135 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total transaction of $77,448.55. Following the completion of the transaction, the chief executive officer now directly owns 3,023,002 shares in the company, valued at $56,620,827.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,305 shares of company stock valued at $193,098. Company insiders own 11.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its holdings in Amylyx Pharmaceuticals by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,730 shares of the company's stock valued at $32,000 after acquiring an additional 850 shares during the period. Quest Partners LLC bought a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Amylyx Pharmaceuticals by 16.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,134 shares of the company's stock valued at $112,000 after buying an additional 859 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Amylyx Pharmaceuticals in the third quarter valued at approximately $198,000. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the third quarter valued at approximately $207,000. 95.84% of the stock is 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.