Analysts Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $14.57

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $14.57.

Several research analysts have recently weighed in on the stock. Leerink Partners set a $4.00 price target on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Bank of America upgraded Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Friday, October 18th.

Amylyx Pharmaceuticals Stock Performance

AMLX stock opened at $5.64 on Friday. The business’s 50-day moving average is $3.36 and its two-hundred day moving average is $2.41. The company has a market cap of $383.97 million, a price-to-earnings ratio of -2.30 and a beta of -0.71. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $19.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.35). The business had revenue of ($1.02) million during the quarter, compared to the consensus estimate of $18.83 million. Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. During the same quarter last year, the company earned $0.31 EPS. Equities analysts predict that Amylyx Pharmaceuticals will post -3.03 earnings per share for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals 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 $36,614.40. Following the sale, the insider now owns 143,801 shares in the company, valued at $460,163.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Justin B. Klee sold 18,589 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the completion of the transaction, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at approximately $9,985,820.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Camille L. Bedrosian sold 11,442 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 value of $36,614.40. Following the transaction, the insider now owns 143,801 shares of the company’s stock, valued at $460,163.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Amylyx Pharmaceuticals by 2,768.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after buying an additional 3,224,454 shares in the last quarter. Almitas Capital LLC purchased a new stake in Amylyx Pharmaceuticals during the second quarter valued at approximately $3,617,000. abrdn plc lifted its stake in shares of Amylyx Pharmaceuticals by 1,567.9% in the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after purchasing an additional 1,853,995 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $2,300,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Amylyx Pharmaceuticals in the 1st quarter worth approximately $3,267,000. 95.84% of the stock is currently owned by institutional investors.

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.