Amylyx Pharmaceuticals (NASDAQ:AMLX) Rating Increased to Outperform at Leerink Partners

Leerink Partners upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a market perform rating to an outperform rating in a research report report published on Wednesday morning,Benzinga reports. Leerink Partners currently has $10.00 price target on the stock, up from their prior price target of $4.00.

AMLX has been the topic of several other research reports. Mizuho upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price target for the company from $3.00 to $7.00 in a report on Monday, April 7th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $9.67.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ:AMLX opened at $4.61 on Wednesday. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $7.27. The company has a market cap of $410.68 million, a P/E ratio of -1.21 and a beta of -0.60. The stock’s 50-day moving average is $4.04 and its 200-day moving average is $4.23.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.03. As a group, equities analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insider Activity

In other news, Director Bernhardt G. Zeiher purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $3.70 per share, for a total transaction of $37,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $37,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joshua B. Cohen sold 21,490 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $74,570.30. Following the sale, the chief executive officer now directly owns 3,355,280 shares of the company’s stock, valued at approximately $11,642,821.60. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,980 shares of company stock valued at $168,627. Insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of Amylyx Pharmaceuticals by 18.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company’s stock worth $61,000 after purchasing an additional 2,653 shares during the last quarter. Blue Trust Inc. boosted its stake in Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock worth $26,000 after acquiring an additional 4,883 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Amylyx Pharmaceuticals by 12.0% during the fourth quarter. XTX Topco Ltd now owns 53,376 shares of the company’s stock valued at $202,000 after purchasing an additional 5,704 shares in the last quarter. R Squared Ltd increased its stake in shares of Amylyx Pharmaceuticals by 99.9% during the first quarter. R Squared Ltd now owns 12,736 shares of the company’s stock valued at $45,000 after purchasing an additional 6,366 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter worth approximately $35,000. 95.84% of the stock is currently 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.