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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has earned an average rating of “Buy” from the eight research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.83.

AMLX has been the subject of a number of research reports. Leerink Partners upgraded Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Mizuho boosted their price target on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. Leerink Partnrs raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, HC Wainwright upped their target price on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

Amylyx Pharmaceuticals Trading Up 10.7%

Shares of Amylyx Pharmaceuticals stock opened at $5.36 on Tuesday. The stock’s fifty day simple moving average is $4.17 and its 200 day simple moving average is $4.19. The company has a market capitalization of $477.80 million, a PE ratio of -1.40 and a beta of -0.60. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. Analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Joshua B. Cohen sold 21,490 shares of Amylyx Pharmaceuticals stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $74,570.30. Following the completion of the sale, the chief executive officer now owns 3,355,280 shares of the company’s stock, valued at approximately $11,642,821.60. This trade represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernhardt G. Zeiher purchased 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $3.70 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $37,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 48,980 shares of company stock valued at $168,627. 11.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Amylyx Pharmaceuticals by 232.1% in the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after acquiring an additional 4,883 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter valued at $35,000. Fox Run Management L.L.C. acquired a new stake in Amylyx Pharmaceuticals in the fourth quarter valued at about $45,000. Alpine Global Management LLC bought a new position in Amylyx Pharmaceuticals in the fourth quarter valued at about $45,000. Finally, R Squared Ltd grew its position in Amylyx Pharmaceuticals by 99.9% in the first quarter. R Squared Ltd now owns 12,736 shares of the company’s stock valued at $45,000 after acquiring an additional 6,366 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.