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

Key Points

• Amylyx Pharmaceuticals has an average analyst rating of “Moderate Buy”, with 8 buy ratings, 1 strong buy, and 1 sell among 10 analysts. The average 12-month price target is $24.25.
• Recent brokerage updates were mixed but generally constructive, including HC Wainwright reiterating a $34 target and Guggenheim raising its price objective to $40. However, some firms kept or moved to bearish views, including Wall Street Zen and Weiss Ratings.
• Insider and institutional activity was notable, with Gina Mazzariello selling 15,000 shares and institutions such as Vanguard and Commodore Capital increasing their stakes. The stock recently traded at $17.75 and the company reported a quarterly loss of $0.37 per share, slightly worse than expected.

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) have received an average recommendation of "Moderate Buy" from the ten analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $24.25.

Several brokerages have commented on AMLX. HC Wainwright restated a "buy" rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a report on Monday, June 8th. Mizuho upped their price target on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Guggenheim raised their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Friday, May 8th.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares in the company, valued at approximately $3,555,728.80. This represents a 7.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Amylyx Pharmaceuticals by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company's stock valued at $70,123,000 after buying an additional 531,162 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in Amylyx Pharmaceuticals during the 1st quarter worth approximately $4,237,000. Sofinnova Investments Inc. acquired a new position in Amylyx Pharmaceuticals during the 4th quarter worth approximately $6,367,000. Commodore Capital LP grew its stake in shares of Amylyx Pharmaceuticals by 38.6% during the 4th quarter. Commodore Capital LP now owns 5,650,000 shares of the company's stock worth $68,252,000 after acquiring an additional 1,574,522 shares in the last quarter. Finally, Elmind Capital LP bought a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $1,353,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $17.75 on Friday. The company has a market capitalization of $1.97 billion, a P/E ratio of -11.83 and a beta of -0.20. The business has a 50-day moving average of $15.51 and a two-hundred day moving average of $14.95. Amylyx Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $19.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). On average, equities analysts anticipate that Amylyx Pharmaceuticals will post -1.4 EPS for the current fiscal year.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx's research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company's lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.

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