Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $18.25

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.6250.

A number of analysts recently issued reports on the company. Bank of America raised their price target on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Lifesci Capital raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 27th. Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Finally, HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $20.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $14.01 on Thursday. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -7.78 and a beta of -0.31. The business has a 50 day simple moving average of $13.47 and a 200-day simple moving average of $12.79. Amylyx Pharmaceuticals has a 1 year low of $2.60 and a 1 year high of $17.49.

Insider Transactions at Amylyx Pharmaceuticals

In other news, CFO James M. Frates sold 3,326 shares of Amylyx Pharmaceuticals stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total transaction of $36,951.86. Following the completion of the sale, the chief financial officer directly owned 177,104 shares in the company, valued at approximately $1,967,625.44. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Justin B. Klee sold 1,995 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $13.89, for a total transaction of $27,710.55. Following the sale, the chief executive officer directly owned 3,379,398 shares of the company’s stock, valued at $46,939,838.22. This represents a 0.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 157,783 shares of company stock valued at $2,122,808. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMLX. Millennium Management LLC boosted its stake in shares of Amylyx Pharmaceuticals by 418.6% during the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after purchasing an additional 2,487,617 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Amylyx Pharmaceuticals by 7.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock worth $7,090,000 after buying an additional 143,065 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Amylyx Pharmaceuticals during the second quarter worth $1,541,000. Los Angeles Capital Management LLC bought a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at $149,000. Finally, Acadian Asset Management LLC boosted its position in Amylyx Pharmaceuticals by 135.1% during the 2nd quarter. Acadian Asset Management LLC now owns 569,083 shares of the company’s stock valued at $3,645,000 after acquiring an additional 326,976 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.

The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.