Amylyx Pharmaceuticals (NASDAQ:AMLX) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Amylyx Pharmaceuticals (NASDAQ:AMLX - Free Report) to a buy rating in a research note issued to investors on Thursday morning, Marketbeat reports. The brokerage currently has $10.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Citigroup started coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, June 17th. They issued a "buy" rating and a $12.00 target price for the company. Mizuho increased their price target on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. TD Cowen assumed coverage on Amylyx Pharmaceuticals in a report on Friday, May 30th. They issued a "buy" rating on the stock. Finally, Jefferies Financial Group assumed coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 24th. They set a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $11.75.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX traded up $0.29 on Thursday, reaching $7.68. The company's stock had a trading volume of 1,682,665 shares, compared to its average volume of 1,152,166. The stock's 50-day moving average is $5.53 and its two-hundred day moving average is $4.37. Amylyx Pharmaceuticals has a 52-week low of $1.76 and a 52-week high of $7.73. The stock has a market capitalization of $684.60 million, a P/E ratio of -2.47 and a beta of -0.49.

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

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its position in Amylyx Pharmaceuticals by 181.8% during the fourth quarter. American Century Companies Inc. now owns 59,310 shares of the company's stock worth $224,000 after buying an additional 38,261 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Amylyx Pharmaceuticals during the fourth quarter worth $205,000. Wellington Management Group LLP purchased a new position in Amylyx Pharmaceuticals during the fourth quarter worth $793,000. Bank of America Corp DE increased its position 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 worth $9,171,000 after buying an additional 1,513,748 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in Amylyx Pharmaceuticals by 132.9% during the fourth quarter. Guggenheim Capital LLC now owns 35,868 shares of the company's stock worth $136,000 after buying an additional 20,470 shares in the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

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.