Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives $7.33 Average PT from Brokerages

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

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

Insiders Place Their Bets

In related news, CEO Justin B. Klee sold 7,471 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.04, for a total transaction of $30,182.84. Following the transaction, the chief executive officer now owns 3,176,788 shares of the company’s stock, valued at $12,834,223.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several large investors have recently bought and sold shares of AMLX. China Universal Asset Management Co. Ltd. grew its stake in shares of Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock worth $42,000 after acquiring an additional 5,104 shares in the last quarter. Algert Global LLC purchased a new position in Amylyx Pharmaceuticals during the second quarter worth about $47,000. Hsbc Holdings PLC grew its position in Amylyx Pharmaceuticals by 57.9% in the 2nd quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock worth $150,000 after purchasing an additional 27,954 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Amylyx Pharmaceuticals in the 2nd quarter valued at about $156,000. Finally, Barclays PLC lifted its position in shares of Amylyx Pharmaceuticals by 91.1% during the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock worth $274,000 after buying an additional 40,319 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals Stock Up 2.9 %

Amylyx Pharmaceuticals stock opened at $3.60 on Wednesday. The company has a market capitalization of $246.78 million, a PE ratio of -0.94 and a beta of -0.53. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.95. The firm’s fifty day moving average is $4.54 and its 200 day moving average is $3.50.

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.