HC Wainwright Issues Positive Forecast for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective raised by analysts at HC Wainwright from $20.00 to $28.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 96.91% from the stock’s previous close.

Several other research firms have also recently issued reports on AMLX. Robert W. Baird upped their price objective on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Lifesci Capital raised Amylyx Pharmaceuticals to a “strong-buy” rating in a research report on Monday, October 27th. Citigroup boosted their target price on Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX opened at $14.22 on Tuesday. The firm has a 50-day simple moving average of $13.38 and a two-hundred day simple moving average of $12.43. The firm has a market cap of $1.56 billion, a P/E ratio of -7.90 and a beta of -0.31. Amylyx Pharmaceuticals has a fifty-two week low of $2.60 and a fifty-two week high of $17.49.

Insiders Place Their Bets

In related news, Director Karen Firestone acquired 8,100 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, December 23rd. The stock was purchased at an average cost of $12.45 per share, for a total transaction of $100,845.00. Following the purchase, the director directly owned 63,100 shares of the company’s stock, valued at approximately $785,595. This trade represents a 14.73% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Justin B. Klee sold 1,995 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.89, for a total value of $27,710.55. Following the sale, the chief executive officer directly owned 3,379,398 shares of the company’s stock, valued at $46,939,838.22. This represents a 0.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 157,783 shares of company stock valued at $2,122,808. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth $45,000. BNP Paribas Financial Markets raised its holdings in 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 acquiring an additional 5,904 shares during the period. Legal & General Group Plc purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at about $47,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Amylyx Pharmaceuticals in the third quarter worth about $48,000. 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.