Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded at Wall Street Zen

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other research analysts also recently commented on AMLX. Guggenheim assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a “buy” rating and a $17.00 target price on the stock. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Jefferies Financial Group began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a “hold” rating on the stock. The Goldman Sachs Group upgraded shares of Amylyx Pharmaceuticals to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, July 10th. Finally, Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Amylyx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $11.75.

Amylyx Pharmaceuticals Stock Up 0.7%

Shares of NASDAQ AMLX opened at $8.34 on Friday. Amylyx Pharmaceuticals has a 52 week low of $1.76 and a 52 week high of $8.59. The firm’s fifty day moving average is $5.88 and its 200 day moving average is $4.51. The company has a market cap of $743.43 million, a price-to-earnings ratio of -2.68 and a beta of -0.49.

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

Institutional Trading of Amylyx Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC purchased a new position in shares of Amylyx Pharmaceuticals in the 1st quarter worth about $35,000. Fox Run Management L.L.C. purchased a new position in Amylyx Pharmaceuticals in the 4th quarter worth about $45,000. Alpine Global Management LLC purchased a new position in Amylyx Pharmaceuticals in the 4th quarter worth about $45,000. RPO LLC purchased a new position in Amylyx Pharmaceuticals in the 4th quarter worth about $46,000. Finally, R Squared Ltd raised its position in Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock worth $45,000 after buying an additional 6,366 shares during the last quarter. Institutional investors own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals

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.