Amylyx Pharmaceuticals (NASDAQ:AMLX) Hits New 1-Year High - Still a Buy?

Key Points

• Amylyx Pharmaceuticals' stock recently reached a new 52-week high of $16.96, with a current trading price of $15.29 and a market capitalization of $1.36 billion.
• The company received multiple analyst upgrades, with target prices ranging from $16.00 to $25.00, and currently holds a consensus rating of "Moderate Buy".
• Recent insider sales included the CEO selling approximately 60,000 shares, reflecting a slight decrease in their ownership, while institutional investors own nearly 96% of the stock.

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.96 and last traded at $15.29, with a volume of 2749410 shares changing hands. The stock had previously closed at $15.37.

Analyst Upgrades and Downgrades

AMLX has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Citigroup boosted their target price on shares of Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the company a "buy" rating in a report on Friday, October 17th. Bank of America boosted their target price on shares of Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Guggenheim boosted their target price on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, The Goldman Sachs Group boosted their target price on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Amylyx Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $16.75.

Amylyx Pharmaceuticals Stock Down 0.5%

The stock has a market capitalization of $1.36 billion, a P/E ratio of -6.12 and a beta of -0.33. The firm's 50 day simple moving average is $11.85 and its two-hundred day simple moving average is $7.92.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). As a group, equities research analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Insider Activity at Amylyx Pharmaceuticals

In other news, CEO Joshua B. Cohen sold 29,933 shares of the business's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $14.35, for a total transaction of $429,538.55. Following the completion of the sale, the chief executive officer directly owned 3,325,347 shares of the company's stock, valued at $47,718,729.45. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Justin B. Klee sold 29,975 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $14.38, for a total transaction of $431,040.50. Following the sale, the chief executive officer directly owned 3,325,301 shares of the company's stock, valued at approximately $47,817,828.38. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,333 shares of company stock valued at $1,319,495 over the last quarter. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in AMLX. China Universal Asset Management Co. Ltd. lifted its stake in shares of Amylyx Pharmaceuticals by 18.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock valued at $61,000 after buying an additional 2,653 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Amylyx Pharmaceuticals by 24.7% during the 1st quarter. Hsbc Holdings PLC now owns 14,419 shares of the company's stock valued at $51,000 after buying an additional 2,853 shares in the last quarter. California State Teachers Retirement System purchased a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $28,000. BNP Paribas Financial Markets lifted its stake in shares of Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock valued at $47,000 after buying an additional 5,904 shares in the last quarter. Finally, R Squared Ltd lifted its stake 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 valued at $45,000 after buying an additional 6,366 shares in the last quarter. 95.84% of the stock is owned by 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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