Amylyx Pharmaceuticals (NASDAQ:AMLX) Coverage Initiated by Analysts at Citigroup

Citigroup started coverage on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $12.00 price target on the stock.

AMLX has been the subject of several other research reports. HC Wainwright increased their price objective on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 9th. Mizuho increased their price objective on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, May 14th. Leerink Partners raised Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday. Finally, TD Cowen initiated coverage on Amylyx Pharmaceuticals in a report on Friday, May 30th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.14.

Amylyx Pharmaceuticals Stock Down 2.0%

Shares of AMLX opened at $5.33 on Tuesday. The stock has a market capitalization of $475.12 million, a P/E ratio of -1.71 and a beta of -0.59. Amylyx Pharmaceuticals has a twelve month low of $1.62 and a twelve month high of $7.27. The company has a 50 day moving average of $4.86 and a 200-day moving average of $4.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly 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. On average, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Transactions at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 12,425 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 $43,114.75. Following the completion of the sale, the insider now owns 194,375 shares of the company’s stock, valued at approximately $674,481.25. This trade represents a 6.01% 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, 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 value of $74,570.30. Following the sale, the chief executive officer now directly owns 3,355,280 shares of the company’s stock, valued at $11,642,821.60. This represents a 0.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,811 shares of company stock valued at $155,494. 11.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Amylyx Pharmaceuticals by 181.8% in the fourth quarter. American Century Companies Inc. now owns 59,310 shares of the company’s stock worth $224,000 after purchasing an additional 38,261 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter worth $205,000. Wellington Management Group LLP bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter worth $793,000. Bank of America Corp DE increased its position in shares of Amylyx Pharmaceuticals by 165.9% in the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after purchasing an additional 1,513,748 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter worth $56,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.