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

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been given a consensus rating of “Buy” by the thirteen brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $14.50.

AMLX has been the subject of several research reports. UBS Group raised shares of Amylyx Pharmaceuticals to a “hold” rating in a report on Tuesday, June 24th. Jefferies Financial Group initiated coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a “hold” rating for the company. TD Cowen started coverage on shares of Amylyx Pharmaceuticals in a report on Friday, May 30th. They issued a “buy” rating for the company. Wall Street Zen raised shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group boosted their target price on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $13.31 on Monday. The company has a 50-day moving average of $9.18 and a 200-day moving average of $6.34. The company has a market capitalization of $1.19 billion, a P/E ratio of -5.32 and a beta of -0.45. Amylyx Pharmaceuticals has a 1-year low of $2.60 and a 1-year high of $13.50.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.02). As a group, sell-side analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Amylyx Pharmaceuticals by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after purchasing an additional 143,065 shares during the period. Woodline Partners LP acquired a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter worth approximately $5,697,000. Invesco Ltd. acquired a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter worth approximately $162,000. American Century Companies Inc. lifted its stake in shares of Amylyx Pharmaceuticals by 80.4% in the 1st quarter. American Century Companies Inc. now owns 107,014 shares of the company’s stock worth $379,000 after acquiring an additional 47,704 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Amylyx Pharmaceuticals by 165.9% in the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after acquiring an additional 1,513,748 shares during the period. 95.84% of the stock is 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.