Amylyx Pharmaceuticals, Inc. to Post FY2023 Earnings of $0.50 Per Share, SVB Leerink Forecasts (NASDAQ:AMLX)

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Rating) – Equities research analysts at SVB Leerink lifted their FY2023 earnings per share (EPS) estimates for Amylyx Pharmaceuticals in a report released on Monday, March 13th. SVB Leerink analyst M. Goodman now forecasts that the company will earn $0.50 per share for the year, up from their prior forecast of ($0.50). The consensus estimate for Amylyx Pharmaceuticals’ current full-year earnings is ($1.25) per share. SVB Leerink also issued estimates for Amylyx Pharmaceuticals’ FY2024 earnings at $4.30 EPS, FY2025 earnings at $8.85 EPS and FY2026 earnings at $11.30 EPS.

A number of other equities research analysts have also recently issued reports on AMLX. Bank of America started coverage on shares of Amylyx Pharmaceuticals in a research note on Thursday, January 5th. They issued a “buy” rating and a $50.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on Amylyx Pharmaceuticals from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Citigroup increased their target price on Amylyx Pharmaceuticals from $51.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.20.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX opened at $32.08 on Thursday. The firm has a market cap of $2.14 billion, a P/E ratio of -9.35 and a beta of -0.63. Amylyx Pharmaceuticals has a 1 year low of $6.51 and a 1 year high of $41.93. The stock has a 50 day simple moving average of $35.90 and a two-hundred day simple moving average of $34.13.

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) last announced its quarterly earnings data on Monday, March 13th. The company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.12. The firm had revenue of $21.89 million for the quarter, compared to the consensus estimate of $3.05 million.

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $25,000. Royal Bank of Canada boosted its position in shares of Amylyx Pharmaceuticals by 36.2% during the third quarter. Royal Bank of Canada now owns 1,373 shares of the company’s stock valued at $38,000 after purchasing an additional 365 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Amylyx Pharmaceuticals in the third quarter worth $51,000. High Net Worth Advisory Group LLC raised its holdings in Amylyx Pharmaceuticals by 33.3% in the third quarter. High Net Worth Advisory Group LLC now owns 2,000 shares of the company’s stock worth $56,000 after purchasing an additional 500 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its position in Amylyx Pharmaceuticals by 177.6% during the third quarter. Metropolitan Life Insurance Co NY now owns 2,207 shares of the company’s stock valued at $62,000 after buying an additional 1,412 shares during the period. 70.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gina Mazzariello sold 3,586 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $34.49, for a total transaction of $123,681.14. Following the transaction, the insider now owns 37,414 shares in the company, valued at approximately $1,290,408.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Gina Mazzariello sold 3,586 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $34.49, for a total value of $123,681.14. Following the completion of the sale, the insider now owns 37,414 shares of the company’s stock, valued at $1,290,408.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Morningside Venture Investment sold 50,000 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $34.73, for a total transaction of $1,736,500.00. Following the transaction, the insider now directly owns 7,530,598 shares in the company, valued at $261,537,668.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,300 shares of company stock valued at $5,990,143. Insiders own 12.70% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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Amylyx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis.