Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.33.

Several research analysts have weighed in on AMLX shares. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $3.00 to $11.00 in a report on Monday, November 18th.

Insider Activity

In related news, CEO Joshua B. Cohen sold 11,851 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $3.47, for a total transaction of $41,122.97. Following the completion of the sale, the chief executive officer now owns 3,201,247 shares in the company, valued at $11,108,327.09. This represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Justin B. Klee sold 7,471 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the sale, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at approximately $12,834,223.52. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,169 shares of company stock valued at $97,274. Insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Amylyx Pharmaceuticals by 165.9% during the 4th 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. Almitas Capital LLC boosted its stake in Amylyx Pharmaceuticals by 2.2% during the 4th quarter. Almitas Capital LLC now owns 2,032,370 shares of the company’s stock valued at $7,682,000 after purchasing an additional 43,807 shares during the period. Boxer Capital Management LLC bought a new stake in Amylyx Pharmaceuticals during the 4th quarter valued at approximately $6,615,000. Nantahala Capital Management LLC boosted its stake in Amylyx Pharmaceuticals by 3.4% during the 4th quarter. Nantahala Capital Management LLC now owns 1,452,153 shares of the company’s stock valued at $5,489,000 after purchasing an additional 47,589 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Amylyx Pharmaceuticals by 43.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,353 shares of the company’s stock worth $4,775,000 after acquiring an additional 382,608 shares during the period. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX stock opened at $3.91 on Thursday. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $7.27. The stock’s 50-day moving average is $3.53 and its two-hundred day moving average is $3.91. The firm has a market cap of $268.02 million, a P/E ratio of -1.02 and a beta of -0.51.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. As a group, research analysts expect that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

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.