Amylyx Pharmaceuticals (NASDAQ:AMLX) Rating Increased to Strong-Buy at Baird R W

Baird R W upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

AMLX has been the topic of a number of other reports. HC Wainwright raised their price objective on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Leerink Partners set a $4.00 price target on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a report on Friday, October 18th. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $3.00 to $11.00 in a research report on Monday. Finally, Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.43.

Amylyx Pharmaceuticals Stock Up 11.3 %

AMLX stock opened at $5.30 on Monday. The company has a market cap of $363.32 million, a price-to-earnings ratio of -1.39 and a beta of -0.70. The business has a fifty day simple moving average of $4.17 and a 200-day simple moving average of $2.72. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction 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. The trade was a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George M. Milne, Jr. purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. This represents a 13.18 % increase in their position. The disclosure for this purchase can be found here. 11.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its holdings in Amylyx Pharmaceuticals by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after acquiring an additional 5,104 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Amylyx Pharmaceuticals by 5.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company’s stock valued at $226,000 after purchasing an additional 6,116 shares in the last quarter. Swiss National Bank raised its stake in shares of Amylyx Pharmaceuticals by 8.7% in the 1st 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. Allspring Global Investments Holdings LLC lifted its position in shares of Amylyx Pharmaceuticals by 88.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after purchasing an additional 13,509 shares during the last quarter. Finally, CWM LLC grew its stake in Amylyx Pharmaceuticals by 104.2% in the second quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after purchasing an additional 14,613 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

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.