HC Wainwright Reiterates Buy Rating for Amylyx Pharmaceuticals (NASDAQ:AMLX)

HC Wainwright restated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) in a research note released on Friday, Benzinga reports. The firm currently has a $8.00 price objective on the stock.

AMLX has been the topic of a number of other research reports. Robert W. Baird lowered Amylyx Pharmaceuticals from an outperform rating to a neutral rating in a research note on Monday, March 11th. Leerink Partnrs lowered Amylyx Pharmaceuticals from an outperform rating to a market perform rating in a research note on Monday, March 11th. SVB Leerink lowered Amylyx Pharmaceuticals from an outperform rating to a market perform rating in a research note on Monday, March 11th. Mizuho downgraded Amylyx Pharmaceuticals from a buy rating to a neutral rating in a research report on Monday, March 18th. Finally, The Goldman Sachs Group reaffirmed a neutral rating on shares of Amylyx Pharmaceuticals in a research report on Friday, March 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $32.67.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX traded down $0.14 during midday trading on Friday, reaching $1.76. 1,590,015 shares of the stock traded hands, compared to its average volume of 2,726,935. The company's 50 day moving average is $4.11 and its 200 day moving average is $11.38. Amylyx Pharmaceuticals has a one year low of $1.70 and a one year high of $30.50. The stock has a market capitalization of $119.36 million, a PE ratio of 2.70 and a beta of -0.68.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.70). Amylyx Pharmaceuticals had a return on equity of 12.39% and a net margin of 12.94%. The business had revenue of $88.64 million during the quarter, compared to analysts' expectations of $113.26 million. During the same quarter in the previous year, the business earned $0.02 EPS. As a group, equities analysts forecast that Amylyx Pharmaceuticals will post -1.01 EPS for the current year.

Insider Transactions at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 2,838 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $18.76, for a total transaction of $53,240.88. Following the completion of the transaction, the insider now directly owns 46,245 shares of the company's stock, valued at approximately $867,556.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO James M. Frates sold 1,792 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $18.73, for a total value of $33,564.16. Following the completion of the sale, the chief financial officer now directly owns 134,784 shares of the company's stock, valued at approximately $2,524,504.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gina Mazzariello sold 2,838 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $18.76, for a total value of $53,240.88. Following the sale, the insider now directly owns 46,245 shares of the company's stock, valued at $867,556.20. 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. 11.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Amylyx Pharmaceuticals by 96.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,730 shares of the company's stock worth $32,000 after purchasing an additional 850 shares during the last quarter. Quest Partners LLC acquired a new position in Amylyx Pharmaceuticals in the fourth quarter valued at $89,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 acquiring an additional 859 shares during the last quarter. AXQ Capital LP acquired a new position in Amylyx Pharmaceuticals in the third quarter valued at $198,000. Finally, Rafferty Asset Management LLC acquired a new position in Amylyx Pharmaceuticals in the third quarter valued at $207,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

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.