Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $24.25.

A number of research analysts have recently commented on AMLX shares. Guggenheim upped their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Stifel Nicolaus started coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 price target on the stock. Mizuho upped their price target on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Friday, May 8th.

Amylyx Pharmaceuticals Price Performance

AMLX stock opened at $17.79 on Wednesday. Amylyx Pharmaceuticals has a twelve month low of $5.97 and a twelve month high of $18.74. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -11.86 and a beta of -0.16. The firm’s fifty day simple moving average is $15.13 and its two-hundred day simple moving average is $14.39.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities research analysts expect that Amylyx Pharmaceuticals will post -1.4 EPS for the current year.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in AMLX. Commodore Capital LP purchased a new stake in Amylyx Pharmaceuticals in the third quarter worth about $55,386,000. First Light Asset Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the third quarter valued at about $45,606,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Amylyx Pharmaceuticals by 54.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock valued at $56,408,000 after buying an additional 3,102,395 shares during the last quarter. Millennium Management LLC lifted its position in shares of Amylyx Pharmaceuticals by 418.6% during the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after buying an additional 2,487,617 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Amylyx Pharmaceuticals by 76.1% during the fourth quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company’s stock valued at $53,992,000 after buying an additional 1,929,639 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Company Profile

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.