Amylyx Pharmaceuticals (NASDAQ:AMLX) Reaches New 1-Year High - Here's What Happened

Key Points

• Amylyx Pharmaceuticals' shares hit a new 52-week high of $13.69, closing at $13.31 with a trading volume of 1,381,314 shares.
• Analysts have given the stock a consensus Buy rating with an average target price of $14.50, following several recent upgrades by prominent financial institutions.
• Despite recent positive movements, Amylyx reported an EPS of -$0.46 for its last quarter, which missed consensus estimates.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $13.69 and last traded at $13.31, with a volume of 1381314 shares changing hands. The stock had previously closed at $13.31.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 17th. They issued a "buy" rating and a $12.00 price target for the company. UBS Group upgraded shares of Amylyx Pharmaceuticals to a "hold" rating in a report on Tuesday, June 24th. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Jefferies Financial Group began coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 24th. They set a "hold" rating for the company. Finally, Bank of America increased their target price on shares of Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $14.50.

Amylyx Pharmaceuticals Price Performance

The company's 50 day moving average is $9.28 and its 200 day moving average is $6.41. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.32 and a beta of -0.45.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.02). On average, analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System acquired a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at about $28,000. Valeo Financial Advisors LLC acquired a new stake in Amylyx Pharmaceuticals during the first quarter worth about $35,000. R Squared Ltd grew its stake in Amylyx Pharmaceuticals by 99.9% during the first quarter. R Squared Ltd now owns 12,736 shares of the company's stock worth $45,000 after buying an additional 6,366 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Amylyx Pharmaceuticals during the second quarter worth about $45,000. Finally, BNP Paribas Financial Markets grew its stake in Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock worth $47,000 after buying an additional 5,904 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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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