Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives $11.00 Consensus PT from Brokerages

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of brokerages have recently commented on AMLX. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. Guggenheim began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They set a "buy" rating and a $17.00 target price on the stock. Finally, HC Wainwright boosted their target price on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a report on Friday, May 9th.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Valeo Financial Advisors LLC purchased a new position in Amylyx Pharmaceuticals in the 1st quarter worth about $35,000. Alpine Global Management LLC purchased a new position in Amylyx Pharmaceuticals in the 4th quarter worth about $45,000. Fox Run Management L.L.C. purchased a new position in Amylyx Pharmaceuticals in the 4th quarter worth about $45,000. R Squared Ltd raised its position in Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company's stock worth $45,000 after buying an additional 6,366 shares during the last quarter. Finally, RPO LLC purchased a new position in Amylyx Pharmaceuticals in the 4th quarter worth about $46,000. Institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Price Performance

Amylyx Pharmaceuticals stock traded up $0.26 during mid-day trading on Wednesday, reaching $7.24. 1,998,819 shares of the company traded hands, compared to its average volume of 1,208,089. The firm's 50 day moving average price is $5.39 and its 200 day moving average price is $4.29. The firm has a market capitalization of $645.37 million, a price-to-earnings ratio of -2.33 and a beta of -0.49. Amylyx Pharmaceuticals has a 52-week low of $1.62 and a 52-week high of $7.39.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.03. On average, sell-side 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.