Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives $7.33 Average Target Price from Brokerages

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $7.33.

A number of analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 5th. Robert W. Baird upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $3.00 to $11.00 in a research report on Monday, November 18th. Finally, Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th.

Insider Activity

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 11,851 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.47, for a total value of $41,122.97. Following the transaction, the chief executive officer now directly owns 3,201,247 shares in the company, valued at $11,108,327.09. This represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Justin B. Klee sold 7,471 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the sale, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,169 shares of company stock worth $97,274 in the last three months. Corporate insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after buying an additional 4,883 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Amylyx Pharmaceuticals in the fourth quarter valued at $45,000. Alpine Global Management LLC purchased a new stake in Amylyx Pharmaceuticals during the fourth quarter valued at about $45,000. RPO LLC bought a new stake in Amylyx Pharmaceuticals during the fourth quarter worth about $46,000. Finally, EntryPoint Capital LLC bought a new stake in Amylyx Pharmaceuticals during the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Down 9.8 %

Shares of AMLX stock opened at $3.49 on Thursday. The firm has a market cap of $239.23 million, a P/E ratio of -0.91 and a beta of -0.51. The company has a 50 day moving average of $3.53 and a 200-day moving average of $3.90. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The business had revenue of ($0.67) million for the quarter. As a group, equities analysts expect that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Amylyx Pharmaceuticals Company Profile

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.