Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Stock Has Average Target Price of $38.86 According to Brokerages

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been given a consensus recommendation of “Buy” by the ten brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $38.86.

Several research firms have issued reports on AMLX. Mizuho upped their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Citigroup lifted their target price on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Robert W. Baird boosted their target price on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Finally, Wolfe Research upgraded Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 17th.

Insider Activity

In other news, insider Gina Mazzariello sold 9,536 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $32.46, for a total value of $309,538.56. Following the completion of the sale, the insider directly owned 190,838 shares of the company’s stock, valued at approximately $6,194,601.48. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Camille Bedrosian sold 10,028 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $32.40, for a total transaction of $324,907.20. Following the transaction, the insider owned 278,064 shares in the company, valued at approximately $9,009,273.60. This trade represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 45,374 shares of company stock valued at $1,259,057. 10.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMLX. Integrated Wealth Concepts LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth about $157,000. Arizona State Retirement System increased its position in Amylyx Pharmaceuticals by 9.5% in the 2nd quarter. Arizona State Retirement System now owns 19,825 shares of the company’s stock valued at $356,000 after acquiring an additional 1,726 shares during the period. Corient Private Wealth LP acquired a new position in Amylyx Pharmaceuticals in the 2nd quarter valued at about $1,065,000. Alyeska Investment Group L.P. purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $18,912,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amylyx Pharmaceuticals by 10.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,407 shares of the company’s stock valued at $3,114,000 after acquiring an additional 16,318 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Trading Up 0.9%

Shares of NASDAQ:AMLX opened at $28.04 on Friday. The company has a market capitalization of $3.12 billion, a PE ratio of -19.61 and a beta of -0.10. Amylyx Pharmaceuticals has a twelve month low of $10.83 and a twelve month high of $41.14. The firm has a 50 day simple moving average of $29.98 and a 200-day simple moving average of $20.80.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). As a group, equities research analysts predict that Amylyx Pharmaceuticals will post -1.48 EPS for the current fiscal year.

Amylyx Pharmaceuticals Company Profile