Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $25.38

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received an average rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $25.3750.

A number of equities research analysts have recently commented on AMLX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Citigroup upped their price objective on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Guggenheim raised their target price on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Mizuho lifted their target price on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Finally, Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Amylyx Pharmaceuticals Stock Down 3.8%

AMLX opened at $21.63 on Thursday. The firm has a market cap of $2.41 billion, a P/E ratio of -15.13 and a beta of -0.21. Amylyx Pharmaceuticals has a 52 week low of $7.63 and a 52 week high of $24.60. The business’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $15.99.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, equities analysts expect that Amylyx Pharmaceuticals will post -1.45 EPS for the current fiscal year.

Insider Activity

In other news, insider Gina Mazzariello sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the sale, the insider owned 194,090 shares in the company, valued at $3,555,728.80. This trade represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in AMLX. Dimensional Fund Advisors LP boosted its position in shares of Amylyx Pharmaceuticals by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company’s stock worth $12,544,000 after acquiring an additional 131,944 shares during the last quarter. Vanguard Group Inc. increased its position in Amylyx Pharmaceuticals by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock worth $70,123,000 after purchasing an additional 531,162 shares during the last quarter. Bank of New York Mellon Corp increased its position in Amylyx Pharmaceuticals by 15.5% during the first quarter. Bank of New York Mellon Corp now owns 251,104 shares of the company’s stock worth $3,490,000 after purchasing an additional 33,757 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in Amylyx Pharmaceuticals during the first quarter worth approximately $4,237,000. Finally, Siren L.L.C. purchased a new position in Amylyx Pharmaceuticals during the first quarter worth approximately $17,097,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Company Profile

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.