HC Wainwright Has Strong Forecast for AMLX FY2029 Earnings

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) – Research analysts at HC Wainwright upped their FY2029 earnings per share estimates for Amylyx Pharmaceuticals in a note issued to investors on Tuesday, February 10th. HC Wainwright analyst A. Fein now forecasts that the company will post earnings of $0.80 per share for the year, up from their previous estimate of $0.21. HC Wainwright currently has a “Buy” rating and a $28.00 target price on the stock. The consensus estimate for Amylyx Pharmaceuticals’ current full-year earnings is ($2.20) per share. HC Wainwright also issued estimates for Amylyx Pharmaceuticals’ FY2030 earnings at $2.29 EPS.

Several other research firms have also recently issued reports on AMLX. Lifesci Capital upgraded shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th. Citigroup upped their price target on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Robert W. Baird lifted their price objective on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

Amylyx Pharmaceuticals Trading Down 3.6%

Shares of Amylyx Pharmaceuticals stock opened at $14.35 on Thursday. The company’s 50-day moving average price is $13.40 and its 200-day moving average price is $12.49. Amylyx Pharmaceuticals has a 12-month low of $2.60 and a 12-month high of $17.49. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -7.97 and a beta of -0.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen LLC lifted its stake in shares of Amylyx Pharmaceuticals by 77.0% in the 4th quarter. Nuveen LLC now owns 283,948 shares of the company’s stock valued at $3,430,000 after purchasing an additional 123,529 shares during the period. Meeder Asset Management Inc. purchased a new stake in Amylyx Pharmaceuticals in the fourth quarter worth $25,000. Fox Run Management L.L.C. purchased a new stake in Amylyx Pharmaceuticals in the fourth quarter worth $428,000. Franklin Resources Inc. bought a new position in Amylyx Pharmaceuticals in the fourth quarter worth $14,497,000. Finally, Goldman Sachs Group Inc. lifted its position in Amylyx Pharmaceuticals by 30.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,613,221 shares of the company’s stock valued at $31,568,000 after buying an additional 602,588 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joshua B. Cohen sold 1,974 shares of Amylyx Pharmaceuticals stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.83, for a total transaction of $27,300.42. Following the sale, the chief executive officer owned 3,379,465 shares of the company’s stock, valued at approximately $46,738,000.95. The trade was a 0.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Justin B. Klee sold 1,995 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.89, for a total transaction of $27,710.55. Following the transaction, the chief executive officer owned 3,379,398 shares in the company, valued at $46,939,838.22. This represents a 0.06% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 157,783 shares of company stock worth $2,122,808. Insiders own 12.30% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.