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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.33.

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

Insider Activity

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 11,442 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the transaction, the insider now directly owns 143,801 shares of the company’s stock, valued at $460,163.20. This trade represents a 7.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Justin B. Klee sold 18,589 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at $9,985,820.80. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in AMLX. China Universal Asset Management Co. Ltd. boosted its holdings in Amylyx Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after acquiring an additional 5,104 shares during the period. Algert Global LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth about $47,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Amylyx Pharmaceuticals by 88.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock valued at $55,000 after purchasing an additional 13,509 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Amylyx Pharmaceuticals by 113.6% in the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after purchasing an additional 29,697 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Amylyx Pharmaceuticals by 57.9% in the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock valued at $150,000 after purchasing an additional 27,954 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Up 2.3 %

Shares of AMLX opened at $4.05 on Friday. Amylyx Pharmaceuticals has a 52 week low of $1.58 and a 52 week high of $19.95. The stock has a market cap of $277.62 million, a price-to-earnings ratio of -1.06 and a beta of -0.68. The business has a 50-day simple moving average of $5.09 and a two-hundred day simple moving average of $3.22.

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.