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

Key Points

• Amylyx Pharmaceuticals (NASDAQ:AMLX) reached a new 52-week high of $15.16 during recent trading, showing significant interest with a volume of 2,674,717 shares exchanged.
• Analysts have mixed ratings on the stock; while Guggenheim increased its price target to $25.00 with a "buy" rating, Weiss Ratings has a "sell (e+)" rating on the company.
• Insider trading activity includes recent sales by CEO Joshua B. Cohen and Justin B. Klee, both of whom sold nearly 30,000 shares each at prices around $14.35 to $14.38.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $15.16 and last traded at $14.47, with a volume of 2674717 shares trading hands. The stock had previously closed at $13.48.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMLX shares. Jefferies Financial Group started coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a "hold" rating for the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday. Guggenheim increased their price target on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Wall Street Zen raised Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Bank of America increased their price target on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Amylyx Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $14.75.

Amylyx Pharmaceuticals Stock Up 7.3%

The firm has a 50 day simple moving average of $10.74 and a 200-day simple moving average of $7.27. The stock has a market cap of $1.29 billion, a P/E ratio of -5.79 and a beta of -0.33.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.02). On average, equities analysts anticipate 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 stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.35, for a total transaction of $429,538.55. Following the transaction, the chief executive officer owned 3,325,347 shares in the company, valued at approximately $47,718,729.45. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Justin B. Klee sold 29,975 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.38, for a total value of $431,040.50. Following the transaction, the chief executive officer owned 3,325,301 shares in the company, valued at approximately $47,817,828.38. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,333 shares of company stock valued at $1,319,495 in the last 90 days. Corporate insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System bought a new position in Amylyx Pharmaceuticals during the 2nd quarter worth $28,000. Valeo Financial Advisors LLC bought a new position in Amylyx Pharmaceuticals during the 1st quarter worth $35,000. R Squared Ltd increased its stake in Amylyx Pharmaceuticals by 99.9% during the 1st quarter. R Squared Ltd now owns 12,736 shares of the company's stock worth $45,000 after acquiring an additional 6,366 shares during the period. Ameritas Investment Partners Inc. bought a new position in Amylyx Pharmaceuticals during the 2nd quarter worth $45,000. Finally, BNP Paribas Financial Markets increased its stake in Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock worth $47,000 after acquiring an additional 5,904 shares during the period. Institutional investors own 95.84% of the company's stock.

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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