Analysts Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $23.00

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $23.00.

Several equities analysts recently commented on the company. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Stifel Nicolaus assumed coverage on Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 price objective on the stock. 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 report on Tuesday, April 28th. Bank of America boosted their target price on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, February 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of Amylyx Pharmaceuticals in a report on Wednesday, March 25th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Amylyx Pharmaceuticals in the fourth quarter valued at $25,000. KBC Group NV bought a new position in Amylyx Pharmaceuticals in the first quarter valued at $26,000. California State Teachers Retirement System bought a new position in Amylyx Pharmaceuticals in the second quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its stake in Amylyx Pharmaceuticals by 954.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock valued at $47,000 after acquiring an additional 3,493 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after buying an additional 5,904 shares during the period. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Down 6.9%

Shares of Amylyx Pharmaceuticals stock opened at $13.32 on Friday. The company has a market cap of $1.48 billion, a PE ratio of -8.88 and a beta of -0.16. Amylyx Pharmaceuticals has a 52 week low of $4.80 and a 52 week high of $18.60. The business has a 50 day moving average price of $15.15 and a 200-day moving average price of $14.29.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced 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). As a group, research analysts anticipate that Amylyx Pharmaceuticals will post -1.4 EPS for the current year.

Amylyx Pharmaceuticals Company Profile

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.