Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.33.

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

Amylyx Pharmaceuticals Trading Down 4.9 %

NASDAQ AMLX opened at $3.87 on Friday. The business’s 50-day moving average price is $5.08 and its 200 day moving average price is $3.30. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $19.95. The company has a market capitalization of $265.28 million, a PE ratio of -1.01 and a beta of -0.68.

Insider Buying and Selling

In related news, CEO Justin B. Klee sold 18,589 shares of Amylyx Pharmaceuticals stock in a transaction on Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $59,484.80. Following the sale, the chief executive officer now owns 3,120,569 shares of the company’s stock, valued at $9,985,820.80. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Camille L. Bedrosian sold 11,442 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.20, for a total transaction of $36,614.40. Following the completion of the transaction, the insider now directly owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. The trade was a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of AMLX. AQR Capital Management LLC grew its stake in Amylyx Pharmaceuticals by 2,768.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after purchasing an additional 3,224,454 shares in the last quarter. Almitas Capital LLC bought a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth $3,617,000. abrdn plc increased its stake in shares of Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after buying an additional 1,853,995 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Amylyx Pharmaceuticals in the second quarter valued at $2,300,000. Finally, Alpha Wave Global LP bought a new position in Amylyx Pharmaceuticals during the 3rd quarter valued at $2,169,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Company Profile

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.