Analysts Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) PT at $21.56

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $23.00.

A number of research firms have issued reports on AMLX. Bank of America increased their price target on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Mizuho boosted their target price on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 25th. Guggenheim raised their price target on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMLX. Millennium Management LLC raised its stake in Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after buying an additional 2,487,617 shares during the period. Goldman Sachs Group Inc. grew its stake in Amylyx Pharmaceuticals by 7.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after acquiring an additional 143,065 shares during the period. JPMorgan Chase & Co. grew its stake in Amylyx Pharmaceuticals by 62.7% in the second quarter. JPMorgan Chase & Co. now owns 87,989 shares of the company’s stock valued at $564,000 after acquiring an additional 33,920 shares during the period. Legal & General Group Plc bought a new stake in shares of Amylyx Pharmaceuticals during the second quarter valued at approximately $47,000. Finally, Rhumbline Advisers bought a new stake in shares of Amylyx Pharmaceuticals during the second quarter valued at approximately $645,000. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $14.88 on Tuesday. Amylyx Pharmaceuticals has a one year low of $4.20 and a one year high of $18.60. The stock’s 50-day moving average is $15.36 and its 200 day moving average is $14.25. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -9.92 and a beta of -0.11.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results 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). On average, sell-side analysts expect that Amylyx Pharmaceuticals will post -1.39 EPS for the current fiscal year.

About Amylyx Pharmaceuticals

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.