Amylyx Pharmaceuticals (NASDAQ:AMLX) Coverage Initiated at Guggenheim

Guggenheim initiated coverage on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $17.00 price objective on the stock.

Several other equities analysts have also recently weighed in on AMLX. Citigroup initiated coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 17th. They issued a "buy" rating and a $12.00 price objective on the stock. HC Wainwright lifted their target price on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $4.00 to $10.00 in a research report on Wednesday, May 7th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, TD Cowen assumed coverage on Amylyx Pharmaceuticals in a research note on Friday, May 30th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.00.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ:AMLX traded down $0.15 during trading on Tuesday, reaching $6.26. 1,804,866 shares of the stock traded hands, compared to its average volume of 1,196,469. The stock has a market cap of $558.02 million, a P/E ratio of -2.01 and a beta of -0.59. The stock has a 50-day moving average of $5.03 and a two-hundred day moving average of $4.14. Amylyx Pharmaceuticals has a 52-week low of $1.62 and a 52-week high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.03. Sell-side analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 12,425 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $43,114.75. Following the transaction, the insider now owns 194,375 shares of the company's stock, valued at approximately $674,481.25. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joshua B. Cohen sold 21,490 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were 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 $11,642,821.60. This represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,811 shares of company stock valued at $155,494 over the last three months. 11.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of AMLX. Blue Trust Inc. grew its position in Amylyx Pharmaceuticals by 232.1% during the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company's stock worth $26,000 after purchasing an additional 4,883 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at about $56,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Amylyx Pharmaceuticals by 43.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company's stock worth $4,775,000 after purchasing an additional 382,608 shares during the last quarter. Kennondale Capital Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter worth about $508,000. Finally, American Century Companies Inc. boosted its position in Amylyx Pharmaceuticals by 181.8% in the fourth quarter. American Century Companies Inc. now owns 59,310 shares of the company's stock valued at $224,000 after buying an additional 38,261 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

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.