Amylyx Pharmaceuticals (NASDAQ:AMLX) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Amylyx Pharmaceuticals from “hold” to “sell,” even though most other analysts remain positive on the stock.
• Across brokerages, AMLX still carries a Moderate Buy consensus with an average target price of $23.00; the article notes one Strong Buy, nine Buys, two Holds, and one Sell.
• The company reported a Q1 EPS loss of $0.37, missing estimates, while the stock opened at $14.73 and has a market cap of about $1.64 billion.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

A number of other brokerages have also weighed in on AMLX. HC Wainwright reissued a "buy" rating and issued a $34.00 target price on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 25th. Guggenheim boosted their target price on Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Stifel Nicolaus started coverage on Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They issued a "buy" rating and a $21.00 target price for the company. Bank of America boosted their target price on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Finally, Mizuho boosted their target price on Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $14.73 on Friday. Amylyx Pharmaceuticals has a 1 year low of $4.20 and a 1 year high of $18.60. The firm's 50-day moving average is $15.36 and its 200 day moving average is $14.26. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -9.82 and a beta of -0.11.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.03). On average, equities analysts expect that Amylyx Pharmaceuticals will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Amylyx Pharmaceuticals by 17.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company's stock worth $12,544,000 after acquiring an additional 131,944 shares during the period. KBC Group NV bought a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter valued at $26,000. Bank of New York Mellon Corp raised its position in shares of Amylyx Pharmaceuticals by 15.5% during the 1st quarter. Bank of New York Mellon Corp now owns 251,104 shares of the company's stock valued at $3,490,000 after purchasing an additional 33,757 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter valued at $157,000. Finally, iA Global Asset Management Inc. bought a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter valued at $4,237,000. Institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Company Profile

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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