Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Rating Upgraded by Robert W. Baird

Robert W. Baird upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) from a neutral rating to an outperform rating in a research report report published on Monday, Marketbeat Ratings reports. The firm currently has $11.00 price target on the stock, up from their previous price target of $3.00.

Several other research firms have also recently commented on AMLX. HC Wainwright lifted their target price on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the stock from $4.20 to $10.00 in a report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $11.43.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock opened at $5.30 on Monday. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95. The stock has a 50 day moving average price of $4.17 and a two-hundred day moving average price of $2.72. The stock has a market capitalization of $363.32 million, a PE ratio of -1.39 and a beta of -0.70.

Insiders Place Their Bets

In related news, Director George M. Milne, Jr. acquired 100,000 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now directly owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. This trade represents a 13.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Camille L. Bedrosian sold 11,442 shares of the firm’s stock in a transaction that occurred on 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 owns 143,801 shares in the company, valued at approximately $460,163.20. The trade was a 7.37 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

Institutional Trading of Amylyx Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its stake 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 worth $42,000 after purchasing an additional 5,104 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Amylyx Pharmaceuticals by 5.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company’s stock valued at $226,000 after acquiring an additional 6,116 shares in the last quarter. Swiss National Bank raised its stake in Amylyx Pharmaceuticals by 8.7% in the first quarter. Swiss National Bank now owns 86,600 shares of the company’s stock valued at $246,000 after buying an additional 6,900 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Amylyx Pharmaceuticals by 88.4% in the 2nd 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 in the last quarter. Finally, CWM LLC grew its holdings in shares of Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock valued at $54,000 after buying an additional 14,613 shares during the last quarter. 95.84% of the stock is currently owned by hedge funds and other 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.