Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Average Recommendation of “Buy” by Brokerages

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received an average rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $9.83.

AMLX has been the topic of several recent research reports. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. HC Wainwright lifted their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 9th. Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday. Mizuho increased their target price on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Finally, TD Cowen started coverage on Amylyx Pharmaceuticals in a research report on Friday, May 30th. They issued a “buy” rating for the company.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ AMLX opened at $5.52 on Friday. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $7.27. The firm has a market capitalization of $492.06 million, a price-to-earnings ratio of -1.45 and a beta of -0.59. The stock has a 50 day moving average price of $4.78 and a 200 day moving average price of $4.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.03. Analysts forecast that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 10,896 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $37,809.12. Following the sale, the chief financial officer now owns 290,988 shares in the company, valued at approximately $1,009,728.36. The trade was a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joshua B. Cohen sold 21,490 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $74,570.30. Following the completion of the transaction, the chief executive officer now directly owns 3,355,280 shares of the company’s stock, valued at $11,642,821.60. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,811 shares of company stock worth $155,494 in the last ninety days. 11.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock worth $26,000 after purchasing an additional 4,883 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Amylyx Pharmaceuticals during the 1st quarter worth approximately $35,000. Fox Run Management L.L.C. acquired a new position in shares of Amylyx Pharmaceuticals during the fourth quarter valued at approximately $45,000. Alpine Global Management LLC purchased a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $45,000. Finally, RPO LLC purchased a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $46,000. 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.