Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) PT at $8.00

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $8.00.

Several equities research analysts have issued reports on the stock. Mizuho raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $3.00 to $7.00 in a research note on Monday, April 7th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th.

Insiders Place Their Bets

In related news, CFO James M. Frates sold 10,896 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $37,809.12. Following the sale, the chief financial officer now directly owns 290,988 shares of the company’s stock, valued at $1,009,728.36. This represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joshua B. Cohen sold 11,851 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.47, for a total value of $41,122.97. Following the sale, the chief executive officer now directly owns 3,201,247 shares in the company, valued at $11,108,327.09. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,509 shares of company stock valued at $222,586 over the last 90 days. 11.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in AMLX. China Universal Asset Management Co. Ltd. lifted its stake in Amylyx Pharmaceuticals by 18.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company’s stock worth $61,000 after acquiring an additional 2,653 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Amylyx Pharmaceuticals by 232.1% in the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after purchasing an additional 4,883 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Amylyx Pharmaceuticals by 12.0% during the 4th quarter. XTX Topco Ltd now owns 53,376 shares of the company’s stock worth $202,000 after purchasing an additional 5,704 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Amylyx Pharmaceuticals during the first quarter worth $35,000. Finally, Northern Trust Corp increased its holdings in Amylyx Pharmaceuticals by 11.8% in the fourth quarter. Northern Trust Corp now owns 106,564 shares of the company’s stock valued at $403,000 after buying an additional 11,214 shares during the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Up 0.6 %

AMLX opened at $5.14 on Friday. The company has a market cap of $457.89 million, a PE ratio of -1.35 and a beta of -0.53. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $7.27. The company has a 50-day moving average price of $3.83 and a 200 day moving average price of $4.20.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Tuesday, March 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The business had revenue of ($0.67) million during the quarter. As a group, sell-side analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current 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.