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 objective on the stock, up from their previous price objective of $3.00.

Several other research firms have also issued reports on AMLX. Leerink Partners set a $4.00 price target on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. HC Wainwright upped their price target 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. Finally, Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.43.

Amylyx Pharmaceuticals Stock Performance

NASDAQ AMLX opened at $5.24 on Monday. The firm’s fifty day moving average price is $4.33 and its two-hundred day moving average price is $2.78. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $19.95. The firm has a market capitalization of $358.86 million, a P/E ratio of -1.37 and a beta of -0.70.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $36,614.40. Following the sale, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. This represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the sale, the chief executive officer now owns 3,120,569 shares in the company, valued at $9,985,820.80. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after purchasing an additional 5,104 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Amylyx Pharmaceuticals by 52,575.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after buying an additional 15,247 shares during the period. Algert Global LLC acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $47,000. CWM LLC boosted its position in Amylyx Pharmaceuticals by 104.2% during the 2nd quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after buying an additional 14,613 shares during the period. Finally, SG Americas Securities LLC boosted its position in Amylyx Pharmaceuticals by 113.6% during the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after buying an additional 29,697 shares during the period. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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.