Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $20.00 at HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target increased by analysts at HC Wainwright from $16.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 62.47% from the company’s previous close.

AMLX has been the topic of several other reports. Bank of America lifted their price target on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Guggenheim upped their target price on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Robert W. Baird boosted their price objective on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price target on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.25.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock traded down $0.15 during trading hours on Friday, reaching $12.31. 1,901,558 shares of the company were exchanged, compared to its average volume of 1,301,129. The firm has a market cap of $1.10 billion, a PE ratio of -4.92 and a beta of -0.34. Amylyx Pharmaceuticals has a 1 year low of $2.60 and a 1 year high of $16.96. The stock’s fifty day moving average is $13.13 and its 200 day moving average is $8.78.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, November 6th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.06. Research analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Justin B. Klee sold 29,975 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.38, for a total value of $431,040.50. Following the sale, the chief executive officer directly owned 3,325,301 shares in the company, valued at $47,817,828.38. The trade was a 0.89% 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, CFO James M. Frates sold 10,558 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 280,430 shares in the company, valued at $4,108,299.50. This represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 91,333 shares of company stock valued at $1,319,495. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMLX. Valeo Financial Advisors LLC purchased a new position in shares of Amylyx Pharmaceuticals in the 1st quarter valued at about $35,000. Alps Advisors Inc. grew its position in Amylyx Pharmaceuticals by 22.0% during the first quarter. Alps Advisors Inc. now owns 67,597 shares of the company’s stock worth $239,000 after buying an additional 12,167 shares during the period. Kennondale Capital Management LLC increased its holdings in Amylyx Pharmaceuticals by 50.8% in the first quarter. Kennondale Capital Management LLC now owns 202,743 shares of the company’s stock valued at $718,000 after buying an additional 68,298 shares in the last quarter. R Squared Ltd lifted its position in shares of Amylyx Pharmaceuticals by 99.9% during the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock valued at $45,000 after acquiring an additional 6,366 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Amylyx Pharmaceuticals by 24.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 372,853 shares of the company’s stock worth $1,320,000 after acquiring an additional 73,904 shares in the last quarter. 95.84% of the stock is currently 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.