Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $7.33

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.33.

Several equities analysts recently weighed in on AMLX shares. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Leerink Partners set a $4.00 target price on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research report on Friday, October 18th. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $3.00 to $11.00 in a research report on Monday, November 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th.

Amylyx Pharmaceuticals Stock Performance

Amylyx Pharmaceuticals stock opened at $3.40 on Friday. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $19.95. The company has a market cap of $233.07 million, a PE ratio of -0.89 and a beta of -0.54. The business’s 50-day simple moving average is $3.91 and its two-hundred day simple moving average is $3.71.

Insiders Place Their Bets

In related news, CEO Justin B. Klee sold 7,471 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the sale, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joshua B. Cohen sold 11,851 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.47, for a total transaction of $41,122.97. Following the transaction, the chief executive officer now owns 3,201,247 shares of the company’s stock, valued at $11,108,327.09. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,000 shares of company stock worth $84,142. Company insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of AMLX. Blue Trust Inc. boosted its stake in Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock worth $26,000 after purchasing an additional 4,883 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Amylyx Pharmaceuticals in the fourth quarter worth about $45,000. China Universal Asset Management Co. Ltd. boosted its position in Amylyx Pharmaceuticals by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after acquiring an additional 5,104 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at about $53,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

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.