Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Given Average Recommendation of “Buy” by Brokerages

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been given an average recommendation of “Buy” by the eleven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $36.50.

AMLX has been the topic of several recent research reports. HC Wainwright upped their target price on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Robert W. Baird boosted their price target on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Guggenheim upped their price objective on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, Mizuho increased their price objective on Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $31.62 on Monday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -22.11 and a beta of -0.13. The business has a 50-day moving average of $25.69 and a 200 day moving average of $18.83. Amylyx Pharmaceuticals has a 12 month low of $10.83 and a 12 month high of $41.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Equities research analysts anticipate that Amylyx Pharmaceuticals will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the company’s stock in a transaction dated 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 represents a 7.17% decrease in their position. The sale 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 insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at approximately $158,534,000. GSA Capital Partners LLP purchased a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $705,000. Dimensional Fund Advisors LP lifted its position in shares of Amylyx Pharmaceuticals by 17.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company’s stock worth $12,544,000 after purchasing an additional 131,944 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Amylyx Pharmaceuticals by 10.1% during the 4th 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. Finally, Almitas Capital LLC acquired a new position in shares of Amylyx Pharmaceuticals during the second quarter worth $17,509,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals