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Amylyx Pharmaceuticals (NASDAQ:AMLX) Sets New 1-Year High - Should You Buy?

Amylyx Pharmaceuticals logo with Medical background

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $8.47 and last traded at $8.41, with a volume of 2339682 shares trading hands. The stock had previously closed at $7.68.

Analyst Upgrades and Downgrades

AMLX has been the topic of a number of research reports. Guggenheim initiated coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a "buy" rating and a $17.00 price objective on the stock. HC Wainwright increased their price objective on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Mizuho increased their price objective on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. 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. Finally, Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.75.

View Our Latest Stock Analysis on AMLX

Amylyx Pharmaceuticals Trading Up 1.0%

The company has a market capitalization of $745.21 million, a price-to-earnings ratio of -2.69 and a beta of -0.49. The company's 50 day simple moving average is $5.81 and its 200-day simple moving average is $4.48.

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

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently modified their holdings of AMLX. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Amylyx Pharmaceuticals by 18.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company's stock worth $61,000 after acquiring an additional 2,653 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Amylyx Pharmaceuticals by 24.7% during the 1st quarter. Hsbc Holdings PLC now owns 14,419 shares of the company's stock worth $51,000 after acquiring an additional 2,853 shares during the period. XTX Topco Ltd lifted its holdings in shares of Amylyx Pharmaceuticals by 12.0% during the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company's stock worth $202,000 after acquiring an additional 5,704 shares during the period. R Squared Ltd lifted its holdings in shares of 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. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Amylyx Pharmaceuticals during the 1st quarter worth about $35,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Company Profile

(Get Free Report)

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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