HC Wainwright Comments on Amylyx Pharmaceuticals, Inc.’s Q1 2023 Earnings (NASDAQ:AMLX)

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Rating) – Research analysts at HC Wainwright issued their Q1 2023 earnings per share (EPS) estimates for Amylyx Pharmaceuticals in a research note issued on Tuesday, March 14th. HC Wainwright analyst A. Fein expects that the company will post earnings of ($0.32) per share for the quarter. HC Wainwright has a “Buy” rating and a $50.00 price objective on the stock. The consensus estimate for Amylyx Pharmaceuticals’ current full-year earnings is ($1.25) per share. HC Wainwright also issued estimates for Amylyx Pharmaceuticals’ Q2 2023 earnings at ($0.29) EPS, Q3 2023 earnings at ($0.26) EPS, Q4 2023 earnings at ($0.23) EPS, FY2023 earnings at ($1.05) EPS, FY2024 earnings at $0.47 EPS, FY2025 earnings at $2.26 EPS, FY2026 earnings at $3.66 EPS and FY2027 earnings at $5.02 EPS.

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

Other research analysts also recently issued reports about the company. Bank of America began coverage on Amylyx Pharmaceuticals in a research note on Thursday, January 5th. They issued a “buy” rating and a $50.00 target price on the stock. Citigroup lifted their target price on Amylyx Pharmaceuticals from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their target price on Amylyx Pharmaceuticals from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.20.

Amylyx Pharmaceuticals Stock Down 4.5 %

AMLX opened at $32.08 on Thursday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -9.35 and a beta of -0.63. Amylyx Pharmaceuticals has a 52 week low of $6.51 and a 52 week high of $41.93. The business’s 50 day moving average is $35.90 and its two-hundred day moving average is $34.13.

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors have recently modified their holdings of the business. High Net Worth Advisory Group LLC boosted its position in Amylyx Pharmaceuticals by 33.3% during 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. Brown Advisory Inc. purchased a new stake in Amylyx Pharmaceuticals during the third quarter worth $1,223,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Amylyx Pharmaceuticals during the third quarter worth $13,284,000. Emerald Advisers LLC purchased a new stake in Amylyx Pharmaceuticals during the third quarter worth $16,925,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Amylyx Pharmaceuticals during the third quarter worth $51,000. 70.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amylyx Pharmaceuticals

In related news, major shareholder Morningside Venture Investment sold 50,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $34.73, for a total value of $1,736,500.00. Following the sale, the insider now directly owns 7,530,598 shares in the company, valued at $261,537,668.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Gina Mazzariello sold 3,586 shares of Amylyx Pharmaceuticals stock in a transaction that occurred 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 sale, the insider now directly owns 37,414 shares in the company, valued at $1,290,408.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Morningside Venture Investment sold 50,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $34.73, for a total value of $1,736,500.00. Following the completion of the sale, the insider now owns 7,530,598 shares in the company, valued at $261,537,668.54. The disclosure for this sale can be found here. Insiders have sold a total of 174,300 shares of company stock worth $5,990,143 over the last three months. 12.70% of the stock is currently owned by corporate insiders.

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.