Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Average Rating of "Moderate Buy" from Brokerages

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

A number of brokerages have recently commented on AMLX. Citigroup began coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, June 17th. They set a "buy" rating and a $12.00 target price on the stock. HC Wainwright raised their target price on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Guggenheim assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They set a "buy" rating and a $17.00 price objective for the company. Finally, TD Cowen initiated coverage on shares of Amylyx Pharmaceuticals in a report on Friday, May 30th. They set a "buy" rating for the company.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $6.98 on Wednesday. The firm has a market cap of $622.20 million, a P/E ratio of -2.24 and a beta of -0.49. Amylyx Pharmaceuticals has a 1-year low of $1.62 and a 1-year high of $7.27. The company has a 50 day simple moving average of $5.39 and a two-hundred day simple moving average of $4.29.

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

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC acquired a new stake in Amylyx Pharmaceuticals during the 1st quarter valued at $35,000. Fox Run Management L.L.C. bought a new position in shares of Amylyx Pharmaceuticals in the 4th quarter worth about $45,000. Alpine Global Management LLC bought a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $45,000. RPO LLC bought a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $46,000. Finally, R Squared Ltd lifted 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 valued at $45,000 after purchasing an additional 6,366 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company's stock.

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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