Bank of America Issues Positive Forecast for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective raised by Bank of America from $14.00 to $16.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Citigroup began coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 17th. They issued a “buy” rating and a $12.00 price objective for the company. The Goldman Sachs Group increased their price target on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Jefferies Financial Group assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They issued a “hold” rating for the company. Guggenheim boosted their price objective on shares of Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Wall Street Zen raised shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.75.

Amylyx Pharmaceuticals Stock Up 1.0%

NASDAQ AMLX opened at $13.42 on Friday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -5.37 and a beta of -0.33. Amylyx Pharmaceuticals has a 52-week low of $2.60 and a 52-week high of $15.15. The firm has a 50-day moving average price of $10.29 and a 200 day moving average price of $7.05.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.02). On average, equities research analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Transactions at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 8,828 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $14.58, for a total value of $128,712.24. Following the sale, the insider directly owned 148,141 shares of the company’s stock, valued at approximately $2,159,895.78. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Justin B. Klee sold 29,975 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $14.38, for a total transaction of $431,040.50. Following the completion of the sale, the chief executive officer owned 3,325,301 shares of the company’s stock, valued at approximately $47,817,828.38. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,333 shares of company stock worth $1,319,495 in the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new stake in Amylyx Pharmaceuticals during the second quarter worth about $45,000. BNP Paribas Financial Markets increased its stake in Amylyx Pharmaceuticals by 433.2% during the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after acquiring an additional 5,904 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter worth about $47,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Amylyx Pharmaceuticals in the 1st quarter valued at about $35,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Company Profile

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.