Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded at Mizuho

Mizuho upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a neutral rating to an outperform rating in a research note published on Monday, Marketbeat.com reports. Mizuho currently has $7.00 price objective on the stock, up from their previous price objective of $3.00.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Amylyx Pharmaceuticals Stock Up 5.4 %

AMLX stock opened at $3.49 on Monday. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $7.27. The company has a market cap of $309.22 million, a PE ratio of -0.91 and a beta of -0.53. The business’s 50-day simple moving average is $3.54 and its 200 day simple moving average is $4.07.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The firm had revenue of ($0.67) million for the quarter. On average, equities research analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, CEO Joshua B. Cohen sold 21,490 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction 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 $11,642,821.60. This represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James M. Frates sold 10,896 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $37,809.12. Following the completion of the sale, the chief financial officer now directly owns 290,988 shares of the company’s stock, valued at approximately $1,009,728.36. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,509 shares of company stock worth $222,586. 11.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in Amylyx Pharmaceuticals in the fourth quarter worth about $793,000. Mackenzie Financial Corp boosted its stake in shares of Amylyx Pharmaceuticals by 234.9% in the 4th quarter. Mackenzie Financial Corp now owns 111,310 shares of the company’s stock valued at $421,000 after purchasing an additional 78,070 shares during the last quarter. Alpine Global Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. Two Sigma Investments LP raised its stake in shares of Amylyx Pharmaceuticals by 77.4% during the fourth quarter. Two Sigma Investments LP now owns 651,517 shares of the company’s stock worth $2,463,000 after buying an additional 284,280 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $249,000. Institutional investors own 95.84% of the company’s stock.

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.