Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $7.33

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.33.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, Director Bernhardt G. Zeiher purchased 10,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $3.70 per share, with a total value of $37,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $37,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Justin B. Klee sold 7,471 shares of Amylyx Pharmaceuticals 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 sale, the chief executive officer now owns 3,176,788 shares in the company, valued at $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,169 shares of company stock valued at $97,274. Corporate insiders own 11.70% of the company's stock.

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Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds have recently made changes to their positions in AMLX. Boxer Capital Management LLC bought a new position in Amylyx Pharmaceuticals during the 4th quarter valued at $6,615,000. Bank of America Corp DE lifted its position in shares of Amylyx Pharmaceuticals by 165.9% during the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company's stock worth $9,171,000 after purchasing an additional 1,513,748 shares during the last quarter. Walleye Capital LLC grew its stake in Amylyx Pharmaceuticals by 986.5% in the third quarter. Walleye Capital LLC now owns 670,594 shares of the company's stock worth $2,173,000 after purchasing an additional 608,874 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Amylyx Pharmaceuticals by 862.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company's stock valued at $1,786,000 after buying an additional 423,316 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Amylyx Pharmaceuticals by 122.4% during the fourth quarter. Jane Street Group LLC now owns 765,475 shares of the company's stock valued at $2,893,000 after buying an additional 421,302 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Up 11.4 %

Shares of NASDAQ AMLX traded up $0.38 during trading on Monday, hitting $3.72. 516,496 shares of the company traded hands, compared to its average volume of 1,365,977. The firm has a market capitalization of $329.60 million, a P/E ratio of -0.97 and a beta of -0.51. The company has a 50-day moving average price of $3.55 and a 200-day moving average price of $4.05. Amylyx Pharmaceuticals has a 1 year low of $1.58 and a 1 year high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. Research analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

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.