Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $23.00.

A number of equities analysts have weighed in on AMLX shares. Stifel Nicolaus started coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price target on the stock. Bank of America boosted their price target on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. Guggenheim boosted their price target on Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, Mizuho boosted their price target on Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Maven Securities LTD purchased a new stake in Amylyx Pharmaceuticals during the third quarter valued at about $951,000. First Light Asset Management LLC purchased a new stake in Amylyx Pharmaceuticals during the third quarter valued at about $45,606,000. Vanguard Group Inc. grew its position in Amylyx Pharmaceuticals by 17.2% during the third quarter. Vanguard Group Inc. now owns 5,273,750 shares of the company’s stock valued at $71,670,000 after acquiring an additional 775,722 shares during the period. Commodore Capital LP purchased a new stake in Amylyx Pharmaceuticals during the third quarter valued at about $55,386,000. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Amylyx Pharmaceuticals in the third quarter worth about $5,944,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

NASDAQ AMLX opened at $14.73 on Tuesday. Amylyx Pharmaceuticals has a 12 month low of $4.20 and a 12 month high of $18.60. The company has a 50-day moving average of $15.36 and a 200-day moving average of $14.26. The company has a market cap of $1.64 billion, a P/E ratio of -9.82 and a beta of -0.11.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities research analysts anticipate that Amylyx Pharmaceuticals will post -1.39 EPS for the current year.

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.