Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) PT at $24.80

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.80.

Several brokerages have recently weighed in on AMLX. The Goldman Sachs Group restated a “neutral” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, March 8th. SVB Leerink cut Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, March 11th. Robert W. Baird downgraded Amylyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a report on Monday, March 11th. Leerink Partnrs cut Amylyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, March 11th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Amylyx Pharmaceuticals in a research note on Monday, June 24th.

Amylyx Pharmaceuticals Trading Down 1.1 %

Shares of AMLX stock opened at $1.88 on Friday. The company has a market capitalization of $127.86 million, a price-to-earnings ratio of -1.76 and a beta of -0.64. The firm has a 50-day moving average price of $1.80 and a 200 day moving average price of $8.06. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $25.48.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Friday, May 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.70). Amylyx Pharmaceuticals had a positive return on equity of 4.14% and a negative net margin of 17.86%. The business had revenue of $88.64 million for the quarter, compared to analysts’ expectations of $113.26 million. During the same quarter last year, the company posted $0.02 earnings per share. As a group, research analysts predict that Amylyx Pharmaceuticals will post -1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 52,575.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock worth $43,000 after purchasing an additional 15,247 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter worth about $89,000. China Universal Asset Management Co. Ltd. lifted its position in Amylyx Pharmaceuticals by 351.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,815 shares of the company’s stock valued at $115,000 after purchasing an additional 6,085 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Amylyx Pharmaceuticals by 69.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,389 shares of the company’s stock worth $153,000 after purchasing an additional 4,255 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $166,000. 95.84% of the stock is owned by institutional investors and hedge funds.

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.