Amylyx Pharmaceuticals (NASDAQ:AMLX) Rating Increased to Buy at The Goldman Sachs Group

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group to a "buy" rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $10.00 target price on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 35.32% from the company's current price.

Other research analysts have also issued research reports about the stock. HC Wainwright increased their target price 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 increased their target price on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Guggenheim assumed 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 for the company. Finally, Jefferies Financial Group assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a "hold" rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned 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 currently has an average rating of "Moderate Buy" and an average price target of $11.75.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX stock opened at $7.39 on Thursday. The firm has a market cap of $658.75 million, a PE ratio of -2.38 and a beta of -0.49. The company has a 50-day moving average of $5.48 and a two-hundred day moving average of $4.34. Amylyx Pharmaceuticals has a 1-year low of $1.76 and a 1-year high of $7.61.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMLX. Adage Capital Partners GP L.L.C. acquired a new stake in Amylyx Pharmaceuticals in the first quarter valued at approximately $20,170,000. Millennium Management LLC raised its holdings in Amylyx Pharmaceuticals by 418.6% in the first 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 in the last quarter. Boxer Capital Management LLC acquired a new stake in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $6,615,000. Woodline Partners LP acquired a new stake in Amylyx Pharmaceuticals in the first quarter valued at approximately $5,697,000. Finally, Bank of America Corp DE raised its holdings in Amylyx Pharmaceuticals by 165.9% in 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 acquiring an additional 1,513,748 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company's stock.

About Amylyx Pharmaceuticals

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.