Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $17.60

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.60.

A number of brokerages have issued reports on AMLX. Mizuho cut their price target on Amylyx Pharmaceuticals from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. The Goldman Sachs Group increased their price target on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Amylyx Pharmaceuticals in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Farallon Capital Management LLC bought a new position in shares of Amylyx Pharmaceuticals in the 1st quarter valued at about $3,267,000. Franklin Resources Inc. lifted its holdings in shares of Amylyx Pharmaceuticals by 114.4% in the 4th quarter. Franklin Resources Inc. now owns 1,325,001 shares of the company’s stock valued at $19,504,000 after acquiring an additional 707,134 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $3,901,000. abrdn plc bought a new position in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $2,878,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Amylyx Pharmaceuticals by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,050,080 shares of the company’s stock valued at $92,467,000 after acquiring an additional 124,188 shares during the last quarter. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $1.97 on Wednesday. The firm has a market capitalization of $133.98 million, a price-to-earnings ratio of -1.84 and a beta of -0.64. Amylyx Pharmaceuticals has a one year low of $1.58 and a one year high of $23.72. The business has a fifty day moving average price of $1.83 and a 200-day moving average price of $6.22.

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

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.