Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $9.83

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) have been given a consensus rating of "Buy" by the eight analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.83.

Several equities research analysts have recently issued reports on the company. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. HC Wainwright increased their price target 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. Leerink Partnrs raised Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Mizuho boosted their price target on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, CFO James M. Frates sold 10,896 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $37,809.12. Following the sale, the chief financial officer now owns 290,988 shares in the company, valued at approximately $1,009,728.36. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joshua B. Cohen sold 21,490 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $74,570.30. Following the completion of the sale, the chief executive officer now owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. The trade was a 0.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,980 shares of company stock worth $168,627 over the last ninety days. Company insiders own 11.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMLX. Blue Trust Inc. raised its position in shares of Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock valued at $26,000 after buying an additional 4,883 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter worth approximately $35,000. Fox Run Management L.L.C. acquired a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. Alpine Global Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $45,000. Finally, R Squared Ltd grew its holdings 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 in the last quarter. Institutional investors and hedge funds own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ AMLX traded down $0.05 during mid-day trading on Tuesday, reaching $5.31. The company had a trading volume of 906,493 shares, compared to its average volume of 1,221,238. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $7.27. The stock has a market capitalization of $473.34 million, a PE ratio of -1.39 and a beta of -0.60. The stock's 50 day moving average is $4.31 and its 200-day moving average is $4.17.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping 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.