Wall Street Zen Upgrades Amylyx Pharmaceuticals (NASDAQ:AMLX) to "Hold"

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

A number of other research firms have also recently commented on AMLX. The Goldman Sachs Group upgraded Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 price objective for the company in a research report on Thursday, July 10th. Leerink Partners upgraded Amylyx Pharmaceuticals from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $4.00 to $10.00 in a research report on Wednesday, May 7th. Mizuho increased their target price on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Guggenheim began coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a "buy" rating and a $17.00 target price for the company. Finally, Jefferies Financial Group began coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a "hold" rating for the company. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $11.75.

Amylyx Pharmaceuticals Trading Down 4.1%

Shares of NASDAQ AMLX traded down $0.34 during mid-day trading on Friday, hitting $7.87. 1,046,592 shares of the stock traded hands, compared to its average volume of 1,156,415. Amylyx Pharmaceuticals has a 52 week low of $1.76 and a 52 week high of $8.72. The stock has a fifty day moving average price of $5.88 and a 200-day moving average price of $4.52.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.03. Research analysts forecast that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at approximately $35,000. Fox Run Management L.L.C. purchased a new position in Amylyx Pharmaceuticals in the fourth quarter worth approximately $45,000. Alpine Global Management LLC purchased a new position in Amylyx Pharmaceuticals in the fourth quarter worth approximately $45,000. RPO LLC purchased a new position in Amylyx Pharmaceuticals in the fourth quarter worth approximately $46,000. Finally, R Squared Ltd grew its position in Amylyx Pharmaceuticals by 99.9% in the first 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. 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.