Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives $17.25 Consensus Target Price from Analysts

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.25.

Several research analysts have commented on the company. Lifesci Capital raised Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 27th. Guggenheim lifted their price objective on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday. The Goldman Sachs Group boosted their price target on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Finally, Citigroup upped their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 17th.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $11.42 on Wednesday. The company’s 50 day moving average price is $13.25 and its two-hundred day moving average price is $11.08. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -6.34 and a beta of -0.31. Amylyx Pharmaceuticals has a fifty-two week low of $2.60 and a fifty-two week high of $16.96.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. As a group, equities research analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, Director Karen Firestone acquired 8,100 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were bought at an average cost of $12.45 per share, with a total value of $100,845.00. Following the purchase, the director directly owned 63,100 shares of the company’s stock, valued at $785,595. This trade represents a 14.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Camille L. Bedrosian sold 6,580 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $14.35, for a total value of $94,423.00. Following the sale, the insider directly owned 175,756 shares of the company’s stock, valued at $2,522,098.60. This represents a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. grew its position in shares of Amylyx Pharmaceuticals by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after buying an additional 3,102,395 shares during the period. Perceptive Advisors LLC grew its holdings in Amylyx Pharmaceuticals by 0.4% in the second quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company’s stock worth $50,654,000 after purchasing an additional 28,017 shares during the period. TCG Crossover Management LLC grew its holdings in Amylyx Pharmaceuticals by 5.0% in the third quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company’s stock worth $84,853,000 after purchasing an additional 300,000 shares during the period. Vanguard Group Inc. increased its stake in Amylyx Pharmaceuticals by 17.2% in the third quarter. Vanguard Group Inc. now owns 5,273,750 shares of the company’s stock valued at $71,670,000 after purchasing an additional 775,722 shares in the last quarter. Finally, Commodore Capital LP acquired a new position in shares of Amylyx Pharmaceuticals during the third quarter valued at about $55,386,000. 95.84% of the stock is currently owned by institutional investors.

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.