Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $24.25

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $24.6250.

AMLX has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Friday, May 8th. Guggenheim lifted their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Mizuho boosted their target price on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday. HC Wainwright restated a “buy” rating and issued a $34.00 target price on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. Finally, Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the transaction, the insider directly owned 194,090 shares of the company’s stock, valued at $3,555,728.80. This represents a 7.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.90% of the stock is owned by corporate insiders.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV acquired a new position in shares of Amylyx Pharmaceuticals in the first quarter worth about $26,000. Meeder Asset Management Inc. purchased a new position in Amylyx Pharmaceuticals in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd grew its stake in Amylyx Pharmaceuticals by 954.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock valued at $47,000 after purchasing an additional 3,493 shares in the last quarter. California State Teachers Retirement System acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $28,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Amylyx Pharmaceuticals by 54.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock worth $64,000 after purchasing an additional 1,890 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $18.50 on Friday. Amylyx Pharmaceuticals has a 1-year low of $7.48 and a 1-year high of $19.15. The business has a 50-day moving average of $15.64 and a 200-day moving average of $15.06. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -12.33 and a beta of -0.20.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). Research analysts expect that Amylyx Pharmaceuticals will post -1.4 EPS 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.