Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $7.33

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities 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 12 month target price among analysts that have issued ratings on the stock in the last year is $7.33.

Several equities research analysts have recently commented on AMLX shares. Robert W. Baird upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. 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. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. 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 Price Performance

Shares of AMLX stock opened at $4.07 on Friday. The stock’s fifty day simple moving average is $5.09 and its 200 day simple moving average is $3.25. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $19.95. The firm has a market cap of $278.99 million, a price-to-earnings ratio of -1.07 and a beta of -0.68.

Insider Activity

In other Amylyx Pharmaceuticals news, insider Camille L. Bedrosian sold 11,442 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total value of $36,614.40. Following the transaction, the insider now owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. This represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the transaction, the chief executive officer now directly owns 3,120,569 shares in the company, valued at $9,985,820.80. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

Institutional Trading of Amylyx Pharmaceuticals

A number of large investors have recently made changes to their positions in AMLX. AQR Capital Management LLC boosted 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 buying an additional 3,224,454 shares during the period. abrdn plc increased its holdings in Amylyx Pharmaceuticals by 1,567.9% during 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 during the last quarter. Almitas Capital LLC bought a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $3,617,000. Acadian Asset Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $2,300,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Amylyx Pharmaceuticals by 41.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock valued at $2,854,000 after purchasing an additional 258,818 shares during the last quarter. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.