Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $14.57.

A number of research analysts recently issued reports on AMLX shares. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Amylyx Pharmaceuticals in a report on Friday, October 18th. Leerink Partners set a $4.00 price target on shares of Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their price objective on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Finally, Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd.

Amylyx Pharmaceuticals Stock Up 1.9 %

Shares of AMLX stock opened at $5.81 on Friday. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.95. The firm has a fifty day moving average of $3.50 and a 200-day moving average of $2.46. The company has a market capitalization of $395.54 million, a price-to-earnings ratio of -2.37 and a beta of -0.70.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative return on equity of 15.51% and a negative net margin of 17.86%. The company had revenue of ($1.02) million during the quarter, compared to analyst estimates of $18.83 million. During the same period in the previous year, the company posted $0.31 earnings per share. On average, equities analysts expect that Amylyx Pharmaceuticals will post -3.03 EPS for the current year.

Insider Activity

In other news, Director George M. Milne, Jr. bought 100,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the acquisition, the director now owns 858,571 shares in the company, valued at approximately $1,888,856.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Amylyx Pharmaceuticals news, CFO James M. Frates acquired 40,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $2.53 per share, for a total transaction of $101,200.00. Following the completion of the purchase, the chief financial officer now directly owns 233,464 shares of the company’s stock, valued at approximately $590,663.92. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George M. Milne, Jr. bought 100,000 shares of Amylyx Pharmaceuticals stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $2.20 per share, with a total value of $220,000.00. Following the completion of the purchase, the director now directly owns 858,571 shares in the company, valued at $1,888,856.20. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Amylyx Pharmaceuticals by 2,768.0% in the second quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after purchasing an additional 3,224,454 shares during the last quarter. Almitas Capital LLC bought a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth about $3,617,000. abrdn plc grew its stake in Amylyx Pharmaceuticals by 1,567.9% in the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after buying an additional 1,853,995 shares during the last quarter. Acadian Asset Management LLC bought a new position in Amylyx Pharmaceuticals in the 2nd quarter valued at about $2,300,000. Finally, Farallon Capital Management LLC acquired a new stake in Amylyx Pharmaceuticals during the first quarter worth approximately $3,267,000. 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.