Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives $7.33 Consensus Target Price from Brokerages

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine ratings firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.33.

A number of analysts recently commented on AMLX shares. HC Wainwright restated a "buy" rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the company a "market perform" rating in a research report on Friday, October 18th. Baird R W upgraded Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 18th. Robert W. Baird upgraded Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Finally, Bank of America raised Amylyx Pharmaceuticals from a "neutral" rating to a "buy" rating and lifted their target price for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd.

Amylyx Pharmaceuticals Stock Performance

NASDAQ AMLX traded up $0.13 on Friday, hitting $3.53. 654,172 shares of the stock traded hands, compared to its average volume of 939,963. The business's fifty day moving average is $3.88 and its two-hundred day moving average is $3.72. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95. The firm has a market capitalization of $241.98 million, a price-to-earnings ratio of -0.92 and a beta of -0.54.

Insider Activity

In other news, CEO Joshua B. Cohen sold 11,851 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.47, for a total transaction of $41,122.97. Following the transaction, the chief executive officer now directly owns 3,201,247 shares in the company, valued at approximately $11,108,327.09. This represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Justin B. Klee sold 7,471 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the sale, the chief executive officer now owns 3,176,788 shares of the company's stock, valued at $12,834,223.52. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,000 shares of company stock worth $84,142. 11.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Amylyx Pharmaceuticals by 232.1% in the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after purchasing an additional 4,883 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $45,000. RPO LLC purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at about $46,000. China Universal Asset Management Co. Ltd. boosted its holdings in Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company's stock valued at $42,000 after acquiring an additional 5,104 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Amylyx Pharmaceuticals during the 4th quarter worth approximately $53,000. 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.