Weiss Ratings Reaffirms Sell (E+) Rating for Amylyx Pharmaceuticals (NASDAQ:AMLX)

Key Points

• Weiss Ratings has reiterated its "sell (E+)" rating for Amylyx Pharmaceuticals (NASDAQ:AMLX), indicating ongoing negative sentiment towards the stock.
• Despite the sell rating from Weiss, Goldman Sachs and Bank of America both raised their price targets for the stock, with Goldman Sachs increasing it from $10.00 to $20.00.
• Amylyx Pharmaceuticals reported a quarterly earnings miss with an EPS of ($0.46), falling short of analyst estimates by $0.02, and the stock is currently trading near $13.48.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on AMLX. Jefferies Financial Group started coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "hold" rating for the company. The Goldman Sachs Group lifted their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Bank of America lifted their price objective on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Guggenheim boosted their price target on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.75.

Amylyx Pharmaceuticals Stock Down 0.1%

AMLX traded down $0.01 during trading on Wednesday, reaching $13.48. The company's stock had a trading volume of 1,191,631 shares, compared to its average volume of 1,260,462. The firm has a fifty day simple moving average of $10.50 and a two-hundred day simple moving average of $7.15. Amylyx Pharmaceuticals has a 1 year low of $2.60 and a 1 year high of $15.15. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -5.39 and a beta of -0.33.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). As a group, equities analysts forecast that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 10,558 shares of the company's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $14.65, for a total transaction of $154,674.70. Following the transaction, the chief financial officer directly owned 280,430 shares in the company, valued at approximately $4,108,299.50. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gina Mazzariello sold 8,828 shares of the company's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $14.58, for a total transaction of $128,712.24. Following the completion of the sale, the insider directly owned 148,141 shares in the company, valued at $2,159,895.78. This trade represents a 5.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,333 shares of company stock valued at $1,319,495 in the last ninety days. Company insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of Amylyx Pharmaceuticals by 18.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock valued at $61,000 after buying an additional 2,653 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Amylyx Pharmaceuticals by 24.7% during the first quarter. Hsbc Holdings PLC now owns 14,419 shares of the company's stock valued at $51,000 after buying an additional 2,853 shares during the period. California State Teachers Retirement System purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter valued at approximately $28,000. BNP Paribas Financial Markets lifted its stake in shares of Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock valued at $47,000 after buying an additional 5,904 shares during the period. Finally, R Squared Ltd lifted its stake in shares of Amylyx Pharmaceuticals by 99.9% during the first quarter. R Squared Ltd now owns 12,736 shares of the company's stock valued at $45,000 after buying an additional 6,366 shares during the period. Hedge funds and other institutional investors own 95.84% of the company's stock.

About Amylyx Pharmaceuticals

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.

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