Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives $23.00 Consensus Target Price from Analysts

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has 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 $24.25.

A number of brokerages recently issued reports on AMLX. Stifel Nicolaus began coverage on Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 price objective on the stock. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Mizuho increased their price objective on Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $17.95 on Wednesday. Amylyx Pharmaceuticals has a 1 year low of $5.97 and a 1 year high of $19.15. The company has a market cap of $2.00 billion, a P/E ratio of -11.96 and a beta of -0.16. The stock’s fifty day moving average price is $15.14 and its two-hundred day moving average price is $14.46.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data 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). On average, analysts expect that Amylyx Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Landscape Capital Management L.L.C. increased its stake in Amylyx Pharmaceuticals by 17.5% in the fourth quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock valued at $148,000 after acquiring an additional 1,825 shares during the last quarter. KBC Group NV bought a new position in Amylyx Pharmaceuticals in the first quarter valued at $26,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Amylyx Pharmaceuticals by 54.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock valued at $64,000 after acquiring an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Amylyx Pharmaceuticals in the fourth quarter valued at $25,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Amylyx Pharmaceuticals by 14.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock valued at $216,000 after acquiring an additional 2,265 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

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.