Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Consensus Rating of “Moderate Buy” by Brokerages

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

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

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 18,589 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $59,484.80. Following the sale, the chief executive officer now owns 3,120,569 shares in the company, valued at approximately $9,985,820.80. This represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George M. Milne, Jr. acquired 100,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the transaction, the director now owns 858,571 shares in the company, 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. 11.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Amylyx Pharmaceuticals by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company’s stock valued at $15,189,000 after buying an additional 72,573 shares in the last quarter. AQR Capital Management LLC grew its stake in Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after acquiring an additional 3,224,454 shares during the period. abrdn plc grew its stake in Amylyx Pharmaceuticals by 1,567.9% in the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after acquiring an additional 1,853,995 shares during the period. Almitas Capital LLC acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at $3,617,000. Finally, Acadian Asset Management LLC acquired a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at $2,300,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Performance

AMLX stock opened at $5.66 on Tuesday. The firm has a market cap of $387.99 million, a price-to-earnings ratio of -1.48 and a beta of -0.70. The firm has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $2.84. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $19.95.

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.