Amylyx Pharmaceuticals (NASDAQ:AMLX) Rating Increased to Outperform at Robert W. Baird

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has a $11.00 target price on the stock, up from their previous target price of $3.00. Robert W. Baird’s target price would suggest a potential upside of 131.09% from the stock’s current price.

A number of other brokerages have also commented on AMLX. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, HC Wainwright upped their target price on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Amylyx Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $11.43.

Amylyx Pharmaceuticals Trading Down 5.2 %

NASDAQ:AMLX opened at $4.76 on Monday. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95. The stock has a market capitalization of $326.30 million, a price-to-earnings ratio of -1.25 and a beta of -0.70. The firm has a fifty day simple moving average of $4.12 and a two-hundred day simple moving average of $2.70.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, Director George M. Milne, Jr. acquired 100,000 shares of Amylyx Pharmaceuticals stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now directly owns 858,571 shares of the company’s stock, valued at $1,888,856.20. This trade represents a 13.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Camille L. Bedrosian sold 11,442 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the sale, the insider now directly owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. This represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Amylyx Pharmaceuticals by 17.5% in the third quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock valued at $1,786,000 after acquiring an additional 82,173 shares during the last quarter. Barclays PLC raised its holdings in shares of Amylyx Pharmaceuticals by 91.1% in the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after purchasing an additional 40,319 shares during the period. Walleye Capital LLC lifted its stake in Amylyx Pharmaceuticals by 986.5% in the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after purchasing an additional 608,874 shares during the last quarter. Alpha Wave Global LP purchased a new position in Amylyx Pharmaceuticals in the third quarter valued at approximately $2,169,000. Finally, FMR LLC grew its holdings in Amylyx Pharmaceuticals by 292.0% during the third quarter. FMR LLC now owns 221,001 shares of the company’s stock valued at $716,000 after purchasing an additional 164,622 shares during the period. Institutional investors own 95.84% of the company’s stock.

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.