Amylyx Pharmaceuticals (NASDAQ:AMLX) Reaches New 52-Week High - What's Next?

Key Points

• Amylyx Pharmaceuticals recently hit a new 52-week high, trading at $14.61, reflecting positive momentum in its stock performance.
• Wall Street analysts have a generally favorable outlook on the company, with multiple firms upgrading their ratings and price targets, indicating a consensus "Buy" rating.
• Institutional investors hold a significant stake in Amylyx, with 95.84% of its stock owned by them, showcasing strong institutional confidence in the company's prospects.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $14.61 and last traded at $14.25, with a volume of 65483 shares traded. The stock had previously closed at $14.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMLX shares. UBS Group raised Amylyx Pharmaceuticals to a "hold" rating in a research note on Tuesday, June 24th. Bank of America lifted their price objective on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Guggenheim lifted their price objective on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. The Goldman Sachs Group lifted their price objective on Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Finally, Wall Street Zen upgraded Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Amylyx Pharmaceuticals presently has an average rating of "Buy" and an average price target of $14.50.

Amylyx Pharmaceuticals Stock Up 0.1%

The company has a market capitalization of $1.30 billion, a P/E ratio of -5.84 and a beta of -0.45. The company has a 50-day moving average of $9.73 and a two-hundred day moving average of $6.69.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released 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 analysts expect that Amylyx Pharmaceuticals, Inc. will post -2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Amylyx Pharmaceuticals by 7.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company's stock valued at $7,090,000 after purchasing an additional 143,065 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Amylyx Pharmaceuticals during the first quarter valued at approximately $5,697,000. Invesco Ltd. purchased a new position in Amylyx Pharmaceuticals during the first quarter valued at $162,000. American Century Companies Inc. raised its stake in Amylyx Pharmaceuticals by 80.4% during the first quarter. American Century Companies Inc. now owns 107,014 shares of the company's stock valued at $379,000 after buying an additional 47,704 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Amylyx Pharmaceuticals during the first quarter valued at $20,170,000. 95.84% of the stock is currently owned by 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.

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