Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Consensus Rating of "Buy" by Analysts

Key Points

• Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received an average consensus rating of "Buy" from thirteen analysts, with price target estimates ranging from $10.00 to $17.00.
• Institutional investors own 95.84% of Amylyx's stock, indicating strong market confidence in the company, particularly following recent share acquisitions by major asset management firms.
• The company's stock price has increased by 3.2%, with current trading around $9.45, reflecting a significant rise from its 52-week low of $2.05.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) has received an average rating of "Buy" from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $11.75.

Several equities research analysts have recently commented on AMLX shares. TD Cowen began coverage on Amylyx Pharmaceuticals in a research note on Friday, May 30th. They issued a "buy" rating for the company. The Goldman Sachs Group raised shares of Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, July 10th. UBS Group raised shares of Amylyx Pharmaceuticals to a "hold" rating in a report on Tuesday, June 24th. Guggenheim began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They issued a "buy" rating and a $17.00 price target for the company. Finally, HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 9th.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its holdings in Amylyx Pharmaceuticals by 18.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock worth $61,000 after purchasing an additional 2,653 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Amylyx Pharmaceuticals by 24.7% in the first quarter. Hsbc Holdings PLC now owns 14,419 shares of the company's stock worth $51,000 after acquiring an additional 2,853 shares during the period. California State Teachers Retirement System acquired a new position in shares of Amylyx Pharmaceuticals in the second quarter worth about $28,000. BNP Paribas Financial Markets raised its position in shares of Amylyx Pharmaceuticals by 433.2% in the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock worth $47,000 after acquiring an additional 5,904 shares during the period. Finally, R Squared Ltd raised its position in shares of Amylyx Pharmaceuticals by 99.9% during the 1st quarter. R Squared Ltd now owns 12,736 shares of the company's stock worth $45,000 after purchasing an additional 6,366 shares during the last quarter. Institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Up 3.2%

Shares of AMLX opened at $9.45 on Thursday. The business's 50 day moving average price is $7.60 and its 200-day moving average price is $5.40. Amylyx Pharmaceuticals has a 52 week low of $2.05 and a 52 week high of $9.51. The stock has a market cap of $842.66 million, a P/E ratio of -3.78 and a beta of -0.46.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.02). On average, equities analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

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.

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