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

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received an average rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.33.

Several analysts have weighed in on the stock. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Robert W. Baird raised shares of 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 report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research note on Friday, October 18th.

Amylyx Pharmaceuticals Trading Down 4.9 %

Shares of AMLX opened at $3.87 on Friday. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95. The firm has a market cap of $265.28 million, a price-to-earnings ratio of -1.01 and a beta of -0.68. The stock has a 50 day moving average of $5.08 and a 200-day moving average of $3.30.

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $36,614.40. Following the sale, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. The trade was a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the completion of the sale, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at $9,985,820.80. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. lifted its position in Amylyx Pharmaceuticals by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after purchasing an additional 5,104 shares during the period. Algert Global LLC acquired a new position in Amylyx Pharmaceuticals during the second quarter worth about $47,000. Allspring Global Investments Holdings LLC raised its position in Amylyx Pharmaceuticals by 88.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after acquiring an additional 13,509 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Amylyx Pharmaceuticals by 113.6% in the 2nd quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after acquiring an additional 29,697 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Amylyx Pharmaceuticals by 57.9% during the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock worth $150,000 after buying an additional 27,954 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.