Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Rating Upgraded by Lifesci Capital

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

Other analysts have also issued reports about the stock. Wall Street Zen raised shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Guggenheim lifted their price objective on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Citigroup upped their target price on Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.75.

Amylyx Pharmaceuticals Stock Up 0.4%

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

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). On average, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 12,039 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $14.58, for a total value of $175,528.62. Following the completion of the sale, the insider directly owned 182,336 shares in the company, valued at $2,658,458.88. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Justin B. Klee sold 29,975 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 3,325,301 shares in the company, valued at approximately $47,817,828.38. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,333 shares of company stock valued at $1,319,495 over the last three months. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMLX. California State Teachers Retirement System acquired a new stake in Amylyx Pharmaceuticals in the second quarter worth about $28,000. Valeo Financial Advisors LLC acquired a new stake in Amylyx Pharmaceuticals in the 1st quarter worth approximately $35,000. R Squared Ltd boosted its stake 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 purchasing an additional 6,366 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $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 valued at $47,000 after purchasing an additional 5,904 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

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.