Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded by Wall Street Zen to "Hold" Rating

Wall Street Zen upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) from a sell rating to a hold rating in a research note published on Friday morning.

Several other analysts have also recently commented on the stock. HC Wainwright boosted their price target on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Mizuho boosted their target price 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 started coverage on 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, Jefferies Financial Group began coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a "hold" rating for the company. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.75.

Amylyx Pharmaceuticals Stock Up 0.7%

Shares of NASDAQ:AMLX traded up $0.06 during midday trading on Friday, reaching $8.34. The company's stock had a trading volume of 1,127,768 shares, compared to its average volume of 1,152,996. The firm has a 50 day moving average of $5.88 and a 200-day moving average of $4.51. Amylyx Pharmaceuticals has a 12-month low of $1.76 and a 12-month high of $8.59.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its 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. On average, equities analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. acquired a new stake in Amylyx Pharmaceuticals in the 1st quarter valued at about $20,170,000. Millennium Management LLC increased its holdings in shares of Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock valued at $10,910,000 after acquiring an additional 2,487,617 shares during the last quarter. Nantahala Capital Management LLC lifted its position in Amylyx Pharmaceuticals by 102.1% in the first quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company's stock valued at $10,388,000 after acquiring an additional 1,482,252 shares during the last quarter. Aberdeen Group plc boosted its holdings in shares of Amylyx Pharmaceuticals by 41.1% in the first quarter. Aberdeen Group plc now owns 2,430,358 shares of the company's stock valued at $8,603,000 after acquiring an additional 707,553 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Amylyx Pharmaceuticals by 165.9% during the fourth quarter. Bank of America Corp DE now owns 2,426,263 shares of the company's stock worth $9,171,000 after buying an additional 1,513,748 shares during the period. Institutional investors and hedge funds 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.