Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $11.00

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.00.

AMLX has been the topic of several research analyst reports. UBS Group upgraded Amylyx Pharmaceuticals to a "hold" rating in a report on Tuesday, June 24th. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $4.00 to $10.00 in a report on Wednesday, May 7th. Mizuho upped their price target on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Leerink Partnrs upgraded Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, HC Wainwright upped their price target on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

Amylyx Pharmaceuticals Stock Up 1.5%

NASDAQ:AMLX traded up $0.11 on Wednesday, reaching $7.35. The company's stock had a trading volume of 247,924 shares, compared to its average volume of 1,071,300. The firm has a market cap of $655.18 million, a price-to-earnings ratio of -2.36 and a beta of -0.49. Amylyx Pharmaceuticals has a 12-month low of $1.76 and a 12-month high of $7.41. The stock has a 50 day moving average price of $5.44 and a 200 day moving average price of $4.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.03. Equities research analysts expect that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter valued at about $35,000. Fox Run Management L.L.C. acquired a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $45,000. Alpine Global Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $45,000. RPO LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $46,000. Finally, R Squared Ltd boosted its position in shares of Amylyx Pharmaceuticals by 99.9% in the 1st quarter. R Squared Ltd now owns 12,736 shares of the company's stock valued at $45,000 after purchasing an additional 6,366 shares during the period. 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.