Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $17.25

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $17.25.

Several equities analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. HC Wainwright lifted their price target on shares of Amylyx Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Citigroup increased their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Finally, Bank of America increased their price target on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 3rd.

Amylyx Pharmaceuticals Stock Up 3.1%

AMLX stock opened at $15.47 on Friday. The company has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $12.06. Amylyx Pharmaceuticals has a 52 week low of $2.60 and a 52 week high of $17.49. The firm has a market capitalization of $1.70 billion, a P/E ratio of -8.59 and a beta of -0.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.06. As a group, analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Camille L. Bedrosian sold 6,580 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $14.35, for a total transaction of $94,423.00. Following the completion of the sale, the insider directly owned 175,756 shares of the company’s stock, valued at approximately $2,522,098.60. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Firestone purchased 8,100 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, December 23rd. The stock was bought 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 in the company, valued at $785,595. This trade represents a 14.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 157,783 shares of company stock valued at $2,122,808. 12.30% of the stock is owned by company insiders.

Institutional Trading of Amylyx Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Commodore Capital LP purchased a new position in Amylyx Pharmaceuticals during the 3rd quarter worth $55,386,000. First Light Asset Management LLC bought a new stake in shares of Amylyx Pharmaceuticals in the third quarter valued at about $45,606,000. Adage Capital Partners GP L.L.C. grew its holdings in Amylyx Pharmaceuticals by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after acquiring an additional 3,102,395 shares in the last quarter. Millennium Management LLC increased its position in Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after purchasing an additional 2,487,617 shares during the period. Finally, Paradigm Biocapital Advisors LP bought a new stake in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at about $25,821,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

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.