Amylyx Pharmaceuticals (NASDAQ:AMLX) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research report report published on Monday morning, Benzinga reports. They currently have a $8.00 target price on the stock.

Several other equities research analysts have also weighed in on the company. SVB Leerink lowered Amylyx Pharmaceuticals from an outperform rating to a market perform rating in a research report on Monday, March 11th. Robert W. Baird lowered Amylyx Pharmaceuticals from an outperform rating to a neutral rating in a research report on Monday, March 11th. Mizuho dropped their price target on Amylyx Pharmaceuticals from $4.00 to $3.00 and set a neutral rating on the stock in a research report on Tuesday, May 14th. The Goldman Sachs Group reissued a neutral rating on shares of Amylyx Pharmaceuticals in a report on Friday, March 8th. Finally, Leerink Partnrs downgraded Amylyx Pharmaceuticals from an outperform rating to a market perform rating in a report on Monday, March 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $24.80.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $1.83 on Monday. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $25.48. The stock has a market capitalization of $124.46 million, a PE ratio of -1.71 and a beta of -0.68. The stock’s 50 day moving average price is $1.81 and its 200-day moving average price is $8.33.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.70). Amylyx Pharmaceuticals had a negative net margin of 17.86% and a positive return on equity of 4.14%. The firm had revenue of $88.64 million for the quarter, compared to the consensus estimate of $113.26 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Research analysts forecast that Amylyx Pharmaceuticals will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC bought a new position in shares of Amylyx Pharmaceuticals during the first quarter valued at $3,267,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amylyx Pharmaceuticals by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 970,555 shares of the company’s stock valued at $2,757,000 after purchasing an additional 75,775 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Amylyx Pharmaceuticals by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company’s stock valued at $15,189,000 after purchasing an additional 72,573 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Amylyx Pharmaceuticals by 8.7% during the first quarter. Swiss National Bank now owns 86,600 shares of the company’s stock valued at $246,000 after purchasing an additional 6,900 shares in the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 300.4% during the first quarter. Capstone Investment Advisors LLC now owns 80,084 shares of the company’s stock valued at $227,000 after purchasing an additional 60,084 shares in the last quarter. 95.84% of the stock is owned by 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.