Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Consensus Rating of “Moderate Buy” from Analysts

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has earned an average rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $17.25.

Several brokerages recently issued reports on AMLX. HC Wainwright boosted their price objective on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 7th. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Robert W. Baird upped their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Citigroup lifted their target price on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Lifesci Capital upgraded Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th.

Insider Activity

In other news, CEO Joshua B. Cohen sold 136,193 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $13.59, for a total value of $1,850,862.87. Following the completion of the transaction, the chief executive officer owned 3,378,621 shares of the company’s stock, valued at approximately $45,915,459.39. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Camille L. Bedrosian sold 6,580 shares of the company’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 transaction of $94,423.00. Following the sale, the insider directly owned 175,756 shares in the company, valued at approximately $2,522,098.60. The trade was a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 157,783 shares of company stock worth $2,122,808 in the last quarter. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its stake in shares of Amylyx Pharmaceuticals by 418.6% in the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after acquiring an additional 2,487,617 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Amylyx Pharmaceuticals by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock worth $7,090,000 after purchasing an additional 143,065 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at about $1,541,000. Los Angeles Capital Management LLC purchased a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $149,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Amylyx Pharmaceuticals by 135.1% in the 2nd quarter. Acadian Asset Management LLC now owns 569,083 shares of the company’s stock valued at $3,645,000 after buying an additional 326,976 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Performance

AMLX stock opened at $14.29 on Friday. Amylyx Pharmaceuticals has a one year low of $2.60 and a one year high of $17.49. The firm has a market cap of $1.57 billion, a PE ratio of -7.94 and a beta of -0.31. The firm’s 50 day moving average price is $13.47 and its 200-day moving average price is $12.16.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.06. Equities research analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

About Amylyx Pharmaceuticals

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.