Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded by Lifesci Capital to Strong-Buy Rating

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by Lifesci Capital to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Citigroup raised their target price on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, October 8th. Bank of America upped their target price on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Robert W. Baird raised their target price on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Wall Street Zen raised Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $16.75.

Amylyx Pharmaceuticals Stock Up 0.4%

Shares of NASDAQ AMLX opened at $14.23 on Monday. Amylyx Pharmaceuticals has a 52 week low of $2.60 and a 52 week high of $16.96. The business’s 50 day moving average price is $12.35 and its 200 day moving average price is $8.26. The firm has a market cap of $1.27 billion, a P/E ratio of -5.69 and a beta of -0.33.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted 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, research analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO James M. Frates sold 10,558 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.65, for a total value of $154,674.70. Following the completion of the sale, the chief financial officer directly owned 280,430 shares in the company, valued at $4,108,299.50. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Justin B. Klee sold 29,975 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $14.38, for a total value of $431,040.50. Following the transaction, the chief executive officer owned 3,325,301 shares in the company, valued at $47,817,828.38. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,333 shares of company stock worth $1,319,495 in the last ninety days. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at about $28,000. Valeo Financial Advisors LLC purchased a new position in Amylyx Pharmaceuticals in the 1st quarter valued at about $35,000. R Squared Ltd boosted its holdings in Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock worth $45,000 after buying an additional 6,366 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth about $45,000. Finally, BNP Paribas Financial Markets increased its stake in Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after buying an additional 5,904 shares in the last quarter. 95.84% of the stock is owned by hedge funds and other 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.