Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Rating Reaffirmed by HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $8.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 310.24% from the stock’s previous close.

Separately, Mizuho cut their target price on shares of Amylyx Pharmaceuticals from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $24.80.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX traded up $0.30 during midday trading on Wednesday, hitting $1.95. The company’s stock had a trading volume of 6,488,963 shares, compared to its average volume of 2,431,729. The business’s fifty day simple moving average is $1.78 and its two-hundred day simple moving average is $7.45. The firm has a market capitalization of $132.63 million, a price-to-earnings ratio of -1.84 and a beta of -0.64. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $25.48.

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

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of AMLX. Graham Capital Management L.P. grew its position in Amylyx Pharmaceuticals by 84.1% in the 3rd quarter. Graham Capital Management L.P. now owns 56,241 shares of the company’s stock valued at $1,030,000 after buying an additional 25,689 shares during the last quarter. Hudson Bay Capital Management LP grew its position in Amylyx Pharmaceuticals by 134.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 682,223 shares of the company’s stock valued at $12,492,000 after buying an additional 391,323 shares during the last quarter. Vanguard Group Inc. grew its position in Amylyx Pharmaceuticals by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,050,080 shares of the company’s stock valued at $92,467,000 after buying an additional 124,188 shares during the last quarter. SG Americas Securities LLC grew its position in Amylyx Pharmaceuticals by 210.7% in the 4th quarter. SG Americas Securities LLC now owns 66,039 shares of the company’s stock valued at $972,000 after buying an additional 44,784 shares during the last quarter. Finally, Premier Path Wealth Partners LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth $298,000. 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.