Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $9.83

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) has received an average rating of "Buy" from the ten analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $10.14.

Several research analysts recently commented on the company. TD Cowen started coverage on Amylyx Pharmaceuticals in a research report on Friday, May 30th. They set a "buy" rating for the company. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $4.00 to $10.00 in a research note on Wednesday, May 7th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday. HC Wainwright boosted their target price on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th.

Amylyx Pharmaceuticals Stock Down 2.0%

Shares of AMLX stock traded down $0.11 during trading on Friday, reaching $5.33. The company's stock had a trading volume of 947,399 shares, compared to its average volume of 1,201,245. Amylyx Pharmaceuticals has a one year low of $1.62 and a one year high of $7.27. The business has a fifty day moving average price of $4.86 and a 200-day moving average price of $4.14. The company has a market cap of $475.12 million, a price-to-earnings ratio of -1.71 and a beta of -0.59.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.03. Research analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insider Transactions at Amylyx Pharmaceuticals

In other news, CFO James M. Frates sold 10,896 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $37,809.12. Following the transaction, the chief financial officer now owns 290,988 shares of the company's stock, valued at approximately $1,009,728.36. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joshua B. Cohen sold 21,490 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $74,570.30. Following the transaction, the chief executive officer now owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. This trade represents a 0.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,811 shares of company stock worth $155,494. 11.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after buying an additional 4,883 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Amylyx Pharmaceuticals in the first quarter valued at about $35,000. Fox Run Management L.L.C. bought a new position in Amylyx Pharmaceuticals during the fourth quarter worth about $45,000. Alpine Global Management LLC acquired a new stake in Amylyx Pharmaceuticals in the 4th quarter worth about $45,000. Finally, RPO LLC bought a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $46,000. 95.84% of the stock is owned by institutional investors and hedge funds.

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.