Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $18.25

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $18.6250.

A number of research analysts have issued reports on the company. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. HC Wainwright boosted their target price on shares of Amylyx Pharmaceuticals from $20.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Bank of America lifted their price objective on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday. Finally, Lifesci Capital raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th.

Insider Buying and Selling

In other news, CFO James M. Frates sold 3,326 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total transaction of $36,951.86. Following the transaction, the chief financial officer owned 177,104 shares in the company, valued at $1,967,625.44. This trade represents a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joshua B. Cohen sold 136,193 shares of Amylyx Pharmaceuticals stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $13.59, for a total transaction of $1,850,862.87. Following the completion of the sale, the chief executive officer directly owned 3,378,621 shares in the company, valued at $45,915,459.39. This represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 157,783 shares of company stock worth $2,122,808 in the last ninety days. 12.30% of the stock is owned by corporate insiders.

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Alpha Wave Global LP lifted its stake in shares of Amylyx Pharmaceuticals by 47.3% in the second quarter. Alpha Wave Global LP now owns 275,842 shares of the company’s stock worth $1,768,000 after buying an additional 88,531 shares in the last quarter. TFG Asset Management GP Ltd acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at about $1,402,000. Y Intercept Hong Kong Ltd purchased a new position in Amylyx Pharmaceuticals in the 2nd quarter worth approximately $1,541,000. Acadian Asset Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 135.1% during the 2nd quarter. Acadian Asset Management LLC now owns 569,083 shares of the company’s stock worth $3,645,000 after purchasing an additional 326,976 shares during the last quarter. Finally, Saturn V Capital Management LP grew its position in shares of Amylyx Pharmaceuticals by 34.4% in the second quarter. Saturn V Capital Management LP now owns 3,260,570 shares of the company’s stock valued at $20,900,000 after purchasing an additional 834,134 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Down 0.8%

Shares of AMLX stock opened at $13.90 on Thursday. Amylyx Pharmaceuticals has a 52-week low of $2.60 and a 52-week high of $17.49. The stock has a market cap of $1.53 billion, a PE ratio of -7.72 and a beta of -0.31. The business has a 50-day simple moving average of $13.50 and a 200-day simple moving average of $12.87.

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.