Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Stifel Nicolaus assumed coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 target price on the stock. Finally, Bank of America increased their target price on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, February 20th. Two equities 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. Based on data from MarketBeat.com, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $19.56.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $14.31 on Friday. Amylyx Pharmaceuticals has a 12 month low of $3.11 and a 12 month high of $17.49. The stock has a market capitalization of $1.58 billion, a P/E ratio of -9.23 and a beta of -0.31. The business has a 50 day simple moving average of $13.99 and a 200-day simple moving average of $13.33.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. Research analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 1,974 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.83, for a total transaction of $27,300.42. Following the completion of the transaction, the chief executive officer directly owned 3,379,465 shares in the company, valued at approximately $46,738,000.95. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James M. Frates sold 3,326 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total transaction of $36,951.86. Following the transaction, the chief financial officer owned 177,104 shares of the company’s stock, valued at approximately $1,967,625.44. The trade was a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 151,203 shares of company stock valued at $2,028,385 in the last quarter. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. lifted its position in shares of Amylyx Pharmaceuticals by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock valued at $56,408,000 after acquiring an additional 3,102,395 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in Amylyx Pharmaceuticals by 0.4% in the 2nd quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company’s stock valued at $50,654,000 after purchasing an additional 28,017 shares in the last quarter. TCG Crossover Management LLC boosted its stake in shares of Amylyx Pharmaceuticals by 5.0% during the 3rd quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company’s stock worth $84,853,000 after purchasing an additional 300,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Amylyx Pharmaceuticals by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock worth $70,123,000 after buying an additional 531,162 shares in the last quarter. Finally, Commodore Capital LP raised its position in shares of Amylyx Pharmaceuticals by 38.6% in the fourth quarter. Commodore Capital LP now owns 5,650,000 shares of the company’s stock valued at $68,252,000 after buying an additional 1,574,522 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.