Wolfe Research Upgrades Amylyx Pharmaceuticals (NASDAQ:AMLX) to Strong-Buy

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by equities researchers at Wolfe Research to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also recently commented on AMLX. Mizuho set a $42.00 price target on Amylyx Pharmaceuticals in a report on Tuesday. HC Wainwright upped their price objective on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Citigroup boosted their price target on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $30.25.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $35.11 on Monday. The firm has a fifty day moving average price of $18.88 and a 200-day moving average price of $16.19. The stock has a market cap of $3.91 billion, a PE ratio of -24.55 and a beta of -0.21. Amylyx Pharmaceuticals has a 1 year low of $7.63 and a 1 year high of $35.39.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). On average, research analysts expect that Amylyx Pharmaceuticals will post -1.45 EPS for the current year.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares of the company’s stock, valued at $3,555,728.80. This represents a 7.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently made changes to their positions in AMLX. Dimensional Fund Advisors LP increased its stake in Amylyx Pharmaceuticals by 17.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company’s stock worth $12,544,000 after acquiring an additional 131,944 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Amylyx Pharmaceuticals by 10.1% during the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock valued at $70,123,000 after acquiring an additional 531,162 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Amylyx Pharmaceuticals by 15.5% in the first quarter. Bank of New York Mellon Corp now owns 251,104 shares of the company’s stock valued at $3,490,000 after purchasing an additional 33,757 shares in the last quarter. Siren L.L.C. purchased a new position in shares of Amylyx Pharmaceuticals in the first quarter valued at $17,097,000. Finally, Stempoint Capital LP grew its holdings in shares of Amylyx Pharmaceuticals by 18.5% in the first quarter. Stempoint Capital LP now owns 669,685 shares of the company’s stock valued at $9,309,000 after purchasing an additional 104,545 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Amylyx Pharmaceuticals

Here are the key news stories impacting Amylyx Pharmaceuticals this week:

• Positive Sentiment: Phase 3 success provides a major catalyst. Avexitide met both the trial’s primary and secondary endpoints, reducing episodes of dangerously low blood sugar in patients who developed PBH following weight-loss surgery. The results strengthen the case for regulatory approval and potential commercialization. Reuters article
• Positive Sentiment: Analyst support increased following the trial announcement. H.C. Wainwright raised its price target from $34 to $55 and maintained a “buy” rating, reflecting greater confidence in avexitide’s commercial opportunity. Street Insider article
• Positive Sentiment: Investor expectations for commercialization have risen. Coverage characterized avexitide as moving closer to the market, helping drive unusually heavy trading activity and the stock’s sharp advance. Yahoo Finance article
• Neutral Sentiment: Trading in AMLX was temporarily halted for pending news before the trial results were released, highlighting the market-moving significance of the announcement. The company is expected to provide additional details through its clinical update and conference call. Business Wire article
• Negative Sentiment: Valuation and execution risks have increased after the sharp rally. Some commentary argued that investors should consider selling because the trial result may already be reflected in the stock. Avexitide still faces regulatory review, launch execution, and commercial-uptake risks; Mizuho’s $30 “outperform” target is below the current trading level. Invezz article

About Amylyx Pharmaceuticals

At Amylyx, our mission is to usher in a new era of treating diseases with high unmet needs.