The Goldman Sachs Group Begins Coverage on Amylyx Pharmaceuticals (NASDAQ:AMLX)

Analysts at The Goldman Sachs Group assumed coverage on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) in a report released on Thursday. The firm set a "buy" rating and a $10.00 price target on the stock. The Goldman Sachs Group's target price indicates a potential upside of 36.72% from the company's current price.

Several other equities research analysts have also commented on AMLX. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Guggenheim assumed coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a "buy" rating and a $17.00 price target for the company. Mizuho raised their price objective on Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. HC Wainwright lifted their target price on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, UBS Group upgraded Amylyx Pharmaceuticals to a "hold" rating in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.75.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX traded up $0.07 during mid-day trading on Thursday, hitting $7.31. 136,851 shares of the company's stock were exchanged, compared to its average volume of 1,203,371. The company has a market cap of $651.97 million, a price-to-earnings ratio of -2.37 and a beta of -0.49. Amylyx Pharmaceuticals has a fifty-two week low of $1.69 and a fifty-two week high of $7.40. The stock's 50-day moving average is $5.44 and its 200-day moving average is $4.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.03. As a group, equities research analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. acquired a new position in Amylyx Pharmaceuticals in the 1st quarter valued at $20,170,000. Millennium Management LLC raised its stake in Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock worth $10,910,000 after buying an additional 2,487,617 shares during the period. Nantahala Capital Management LLC grew its stake in shares of Amylyx Pharmaceuticals by 102.1% in the 1st quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company's stock worth $10,388,000 after acquiring an additional 1,482,252 shares in the last quarter. Aberdeen Group plc grew 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 in the last quarter. Finally, Bank of America Corp DE grew its holdings in 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 valued at $9,171,000 after purchasing an additional 1,513,748 shares during the period. 95.84% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.