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

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.33.

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

Amylyx Pharmaceuticals Trading Down 1.7 %

NASDAQ AMLX opened at $4.00 on Friday. The company has a 50-day moving average price of $5.10 and a two-hundred day moving average price of $3.28. The stock has a market cap of $274.19 million, a price-to-earnings ratio of -1.05 and a beta of -0.68. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 18,589 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 in the company, valued at $9,985,820.80. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Camille L. Bedrosian sold 11,442 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $36,614.40. Following the sale, the insider now owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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