Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been given an average rating of “Moderate Buy” by the nine analysts that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $7.33.

A number of equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.20 to $10.00 in a report on Wednesday, October 23rd. Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $3.00 to $11.00 in a research report on Monday, November 18th. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ:AMLX opened at $3.13 on Wednesday. The business has a 50-day simple moving average of $4.72 and a two-hundred day simple moving average of $3.49. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $19.95. The firm has a market cap of $214.56 million, a price-to-earnings ratio of -0.82 and a beta of -0.53.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.04, for a total value of $30,182.84. Following the completion of the transaction, the chief executive officer now directly owns 3,176,788 shares in the company, valued at $12,834,223.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 11.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently modified their holdings of AMLX. AQR Capital Management LLC lifted its stake in Amylyx Pharmaceuticals by 2,768.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after purchasing an additional 3,224,454 shares in the last quarter. abrdn plc lifted its position in shares of Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock worth $6,390,000 after buying an additional 1,853,995 shares in the last quarter. Almitas Capital LLC purchased a new position in Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $3,617,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Amylyx Pharmaceuticals by 41.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock worth $2,854,000 after acquiring an additional 258,818 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Amylyx Pharmaceuticals by 15.2% during the 2nd quarter. Renaissance Technologies LLC now owns 811,488 shares of the company’s stock worth $1,542,000 after acquiring an additional 106,888 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.