Amylyx Pharmaceuticals (NASDAQ:AMLX) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Amylyx Pharmaceuticals (NASDAQ:AMLX) issued its earnings results on Tuesday. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.06), Zacks reports. The company had revenue of ($0.67) million during the quarter.

Amylyx Pharmaceuticals Stock Up 11.6 %

Amylyx Pharmaceuticals stock opened at $3.36 on Thursday. The company’s 50-day moving average price is $3.54 and its 200-day moving average price is $3.86. The company has a market cap of $230.32 million, a PE ratio of -0.88 and a beta of -0.54. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.32.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 7,471 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.04, for a total transaction of $30,182.84. Following the sale, the chief executive officer now directly owns 3,176,788 shares of the company’s stock, valued at $12,834,223.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joshua B. Cohen sold 11,851 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.47, for a total value of $41,122.97. Following the sale, the chief executive officer now owns 3,201,247 shares in the company, valued at approximately $11,108,327.09. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,169 shares of company stock valued at $97,274. Insiders own 11.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Wednesday. Finally, Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $3.00 to $11.00 in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.33.

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.