Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts maintain a bullish view of Amylyx Pharmaceuticals: Ten firms collectively rate the stock “Buy,” including seven buys and two strong buys, with an average 12-month price target of $38.86.
• Several brokerages raised their price targets, including HC Wainwright to $55, Guggenheim to $57, and Robert W. Baird to $52, citing continued optimism about the company.
• Institutional ownership is substantial at 95.84%: BlackRock recently established a $158.5 million position, while insiders sold 45,374 shares worth approximately $1.26 million over the past three months.

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) have been given a consensus recommendation of "Buy" by the ten research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $38.86.

A number of brokerages have commented on AMLX. HC Wainwright increased their target price on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Guggenheim raised their price objective on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Robert W. Baird lifted their target price on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Mizuho upped their target price on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, August 18th. Finally, Citigroup increased their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, August 3rd.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 10,028 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $32.40, for a total value of $324,907.20. Following the transaction, the insider directly owned 278,064 shares of the company's stock, valued at $9,009,273.60. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gina Mazzariello sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the transaction, the insider directly owned 194,090 shares in the company, valued at $3,555,728.80. This trade represents a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 45,374 shares of company stock worth $1,259,057. 10.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in AMLX. BlackRock Inc. acquired a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter worth $158,534,000. GSA Capital Partners LLP purchased a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $705,000. Elmind Capital LP acquired a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at about $2,011,520. Dimensional Fund Advisors LP boosted its position in shares of Amylyx Pharmaceuticals by 17.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company's stock valued at $12,544,000 after acquiring an additional 131,944 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at about $12,949,000. Institutional investors and hedge funds own 95.84% of the company's stock.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX opened at $28.08 on Friday. The stock has a market capitalization of $3.13 billion, a PE ratio of -19.64 and a beta of -0.10. Amylyx Pharmaceuticals has a fifty-two week low of $10.83 and a fifty-two week high of $41.14. The company has a fifty day moving average of $29.46 and a two-hundred day moving average of $20.51.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.03). Research analysts forecast that Amylyx Pharmaceuticals will post -1.48 earnings per share for the current year.

Amylyx Pharmaceuticals Company Profile

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