Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $24.25

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.6250.

AMLX has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. 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 report on Monday, July 20th. Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a report on Monday, June 8th. Finally, Guggenheim upped their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, June 25th.

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 15,000 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the sale, the insider owned 194,090 shares of the company’s stock, valued at $3,555,728.80. The trade was a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Amylyx Pharmaceuticals by 418.6% in the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after acquiring an additional 2,487,617 shares during the period. Goldman Sachs Group Inc. increased its position in Amylyx Pharmaceuticals by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after purchasing an additional 143,065 shares during the period. JPMorgan Chase & Co. increased its position in Amylyx Pharmaceuticals by 62.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 87,989 shares of the company’s stock valued at $564,000 after purchasing an additional 33,920 shares during the period. Legal & General Group Plc bought a new position in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $47,000. Finally, Rhumbline Advisers bought a new position in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $645,000. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Up 4.7%

Shares of AMLX stock opened at $18.41 on Friday. The firm has a market capitalization of $2.05 billion, a P/E ratio of -12.27 and a beta of -0.20. Amylyx Pharmaceuticals has a twelve month low of $7.48 and a twelve month high of $19.15. The stock’s fifty day simple moving average is $15.88 and its 200 day simple moving average is $15.16.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities research analysts expect that Amylyx Pharmaceuticals will post -1.4 EPS for the current fiscal year.

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.