Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have earned a consensus rating of “Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $36.50.

AMLX has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Guggenheim upped their price target on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Citigroup boosted their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Mizuho upped their target price on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $25,000. KBC Group NV purchased a new position in shares of Amylyx Pharmaceuticals in the first quarter valued at $26,000. California State Teachers Retirement System purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at $28,000. State of Wyoming bought a new stake in Amylyx Pharmaceuticals in the second quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Amylyx Pharmaceuticals by 954.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock worth $47,000 after purchasing an additional 3,493 shares during the last quarter. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $31.62 on Monday. The firm has a market cap of $3.52 billion, a P/E ratio of -22.11 and a beta of -0.13. Amylyx Pharmaceuticals has a 1-year low of $10.83 and a 1-year high of $41.14. The company has a 50 day simple moving average of $25.69 and a two-hundred day simple moving average of $18.87.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Equities analysts anticipate that Amylyx Pharmaceuticals will post -1.48 earnings per share for the current year.

About Amylyx Pharmaceuticals