Amylyx Pharmaceuticals (NASDAQ:AMLX) Reaches New 12-Month High - Should You Buy?

Key Points

• Amylyx hit a new 52-week high of $17.58; analysts have a consensus "Moderate Buy" rating with a $20.11 price target and individual targets ranging as high as $34.
• The company has a market cap of $1.96 billion, reported -$0.30 EPS (beating -$0.31) last quarter and is forecast to post about -2.2 EPS for the year, with the stock trading above its 50- and 200-day moving averages.
• Institutional investors own roughly 95.84% of shares with several hedge funds adding large positions recently, while insiders hold 12.30% overall and disclosed modest January stock sales.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $17.58 and last traded at $17.4070, with a volume of 601934 shares traded. The stock had previously closed at $17.12.

Wall Street Analyst Weigh In

AMLX has been the subject of several research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Stifel Nicolaus initiated coverage on Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They set a "buy" rating and a $21.00 price target on the stock. Guggenheim lifted their target price on Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. HC Wainwright restated a "buy" rating and issued a $34.00 price target on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 25th. Finally, Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.11.

Amylyx Pharmaceuticals Price Performance

The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -11.49 and a beta of -0.22. The firm's fifty day moving average price is $14.60 and its 200-day moving average price is $13.99.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.01. On average, research analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current year.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Joshua B. Cohen sold 1,974 shares of Amylyx Pharmaceuticals stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.83, for a total value of $27,300.42. Following the sale, the chief executive officer owned 3,379,465 shares of the company's stock, valued at approximately $46,738,000.95. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Justin B. Klee sold 1,995 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $13.89, for a total transaction of $27,710.55. Following the transaction, the chief executive officer directly owned 3,379,398 shares of the company's stock, valued at $46,939,838.22. This represents a 0.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 12.30% of the company's stock.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Commodore Capital LP purchased a new stake in Amylyx Pharmaceuticals in the 3rd quarter worth about $55,386,000. First Light Asset Management LLC purchased a new position in shares of Amylyx Pharmaceuticals in the third quarter worth about $45,606,000. Adage Capital Partners GP L.L.C. raised its position in shares of Amylyx Pharmaceuticals by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company's stock valued at $56,408,000 after purchasing an additional 3,102,395 shares during the period. Millennium Management LLC lifted its stake in shares of Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock valued at $10,910,000 after buying an additional 2,487,617 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Amylyx Pharmaceuticals by 76.1% during the 4th quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company's stock valued at $53,992,000 after buying an additional 1,929,639 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors.

About Amylyx Pharmaceuticals

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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