Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives $11.43 Average Price Target from Analysts

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received an average rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.43.

Several research analysts have recently commented on the stock. Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. HC Wainwright upped their price objective on Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $3.00 to $11.00 in a research note on Monday, November 18th. Finally, Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research report on Friday, October 18th.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 11,442 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the transaction, the insider now owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. This trade represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George M. Milne, Jr. bought 100,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the transaction, the director now directly owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. This represents a 13.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMLX. AQR Capital Management LLC grew its position in shares of Amylyx Pharmaceuticals by 2,768.0% during the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after acquiring an additional 3,224,454 shares during the last quarter. Almitas Capital LLC acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth $3,617,000. abrdn plc grew its position in Amylyx Pharmaceuticals by 1,567.9% during the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after purchasing an additional 1,853,995 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Amylyx Pharmaceuticals in the second quarter valued at $2,300,000. Finally, Farallon Capital Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at about $3,267,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX stock opened at $5.74 on Tuesday. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.95. The firm has a market cap of $393.48 million, a PE ratio of -1.50 and a beta of -0.70. The company has a 50-day moving average of $4.61 and a two-hundred day moving average of $2.90.

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.