Amylyx Pharmaceuticals (NASDAQ:AMLX) Announces Earnings Results

Key Points

• Amylyx Pharmaceuticals reported a quarterly earnings loss of ($0.46) EPS, falling short of analysts' estimates by $0.02.
• The company’s stock price decreased to $7.64 with a market cap of $681.03 million following the earnings announcement.
• Amylyx has received multiple upgrades from analysts, with the average target price set at $11.75, indicating a consensus rating of "Moderate Buy".

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02), Zacks reports.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ:AMLX traded down $0.20 during midday trading on Friday, reaching $7.64. 880,307 shares of the company's stock traded hands, compared to its average volume of 1,321,229. Amylyx Pharmaceuticals has a one year low of $1.77 and a one year high of $8.72. The company has a market cap of $681.03 million, a price-to-earnings ratio of -3.06 and a beta of -0.46. The stock has a 50 day moving average of $6.79 and a 200 day moving average of $4.97.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Cowen assumed coverage on shares of Amylyx Pharmaceuticals in a research report on Friday, May 30th. They set a "buy" rating on the stock. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and raised their target price for the stock 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 price target for the company. Jefferies Financial Group began coverage on Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They set a "hold" rating on the stock. Finally, The Goldman Sachs Group raised Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 price objective on the stock in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $11.75.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A hedge fund recently raised its stake in Amylyx Pharmaceuticals stock. Goldman Sachs Group Inc. increased its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,002,961 shares of the company's stock after purchasing an additional 143,065 shares during the quarter. Goldman Sachs Group Inc. owned approximately 2.25% of Amylyx Pharmaceuticals worth $7,090,000 at the end of the most recent quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

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.

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