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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.1111.

A number of analysts have weighed in on AMLX shares. Stifel Nicolaus initiated coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price objective on the stock. Wall Street Zen raised shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Guggenheim lifted their price target on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America boosted their price target on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 1,995 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $13.89, for a total transaction of $27,710.55. Following the transaction, the chief executive officer owned 3,379,398 shares of the company’s stock, valued at $46,939,838.22. The trade was a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joshua B. Cohen sold 1,974 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $13.83, for a total value of $27,300.42. Following the completion of the sale, the chief executive officer owned 3,379,465 shares of the company’s stock, valued at approximately $46,738,000.95. This represents a 0.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 151,203 shares of company stock valued at $2,028,385 over the last quarter. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its position in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after purchasing an additional 2,487,617 shares during the last quarter. Goldman Sachs Group Inc. grew its position 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 worth $7,090,000 after purchasing an additional 143,065 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Amylyx Pharmaceuticals in the second quarter valued at $149,000. ProShare Advisors LLC acquired a new position in Amylyx Pharmaceuticals in the second quarter valued at $113,000. Finally, Geode Capital Management LLC raised its holdings in shares of Amylyx Pharmaceuticals by 109.9% in the second quarter. Geode Capital Management LLC now owns 1,692,413 shares of the company’s stock valued at $10,851,000 after buying an additional 886,252 shares during the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Performance

AMLX opened at $13.81 on Monday. Amylyx Pharmaceuticals has a one year low of $3.11 and a one year high of $17.49. The company has a market cap of $1.53 billion, a P/E ratio of -8.91 and a beta of -0.31. The business’s 50-day simple moving average is $14.43 and its 200-day simple moving average is $13.64.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.01. As a group, analysts predict that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.