Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives $19.56 Consensus PT from Brokerages

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has earned an average rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.1111.

A number of research analysts have commented on AMLX shares. Guggenheim raised their target price on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America increased their price objective on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Stifel Nicolaus initiated coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price objective on the stock. HC Wainwright boosted their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th.

Insider Buying and Selling

In related news, Director Karen Firestone acquired 8,100 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was purchased at an average cost of $12.45 per share, for a total transaction of $100,845.00. Following the purchase, the director directly owned 63,100 shares of the company’s stock, valued at $785,595. This trade represents a 14.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Joshua B. Cohen sold 136,193 shares of Amylyx Pharmaceuticals stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $13.59, for a total value of $1,850,862.87. Following the completion of the transaction, the chief executive officer owned 3,378,621 shares in the company, valued at $45,915,459.39. This trade represents a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 151,203 shares of company stock valued at $2,028,385. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of 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 acquiring an additional 2,487,617 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 in the last quarter. Los Angeles Capital Management LLC purchased a new position in Amylyx Pharmaceuticals in the second quarter worth $149,000. ProShare Advisors LLC purchased a new position in Amylyx Pharmaceuticals in the second quarter worth $113,000. Finally, Geode Capital Management LLC increased its position in shares of Amylyx Pharmaceuticals by 109.9% during the second quarter. Geode Capital Management LLC now owns 1,692,413 shares of the company’s stock worth $10,851,000 after purchasing an additional 886,252 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Trading Down 1.7%

AMLX opened at $13.81 on Monday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -8.91 and a beta of -0.31. Amylyx Pharmaceuticals has a 12-month low of $3.11 and a 12-month high of $17.49. The business’s fifty day simple moving average is $14.43 and its 200-day simple moving average is $13.59.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. On average, equities research analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current 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.