Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $19.56

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $19.5556.

A number of equities research analysts have recently issued reports on AMLX shares. HC Wainwright boosted their price objective on Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Bank of America lifted their price target on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Wall Street Zen upgraded Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Stifel Nicolaus initiated coverage on Amylyx Pharmaceuticals in a report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 target price for the company.

Amylyx Pharmaceuticals Stock Performance

NASDAQ AMLX opened at $13.79 on Monday. The firm has a 50-day moving average of $14.35 and a 200-day moving average of $13.56. The stock has a market cap of $1.52 billion, a PE ratio of -8.90 and a beta of -0.31. Amylyx Pharmaceuticals has a 52-week low of $3.11 and a 52-week high of $17.49.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. As a group, analysts predict that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In related news, CEO Joshua B. Cohen sold 136,193 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $13.59, for a total transaction of $1,850,862.87. Following the transaction, the chief executive officer directly owned 3,378,621 shares of the company’s stock, valued at approximately $45,915,459.39. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James M. Frates sold 3,326 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $11.11, for a total transaction of $36,951.86. Following the transaction, the chief financial officer owned 177,104 shares in the company, valued at approximately $1,967,625.44. The trade was a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 151,203 shares of company stock valued at $2,028,385 in the last three months. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in AMLX. Meeder Asset Management Inc. bought a new position in Amylyx Pharmaceuticals during the 4th quarter worth $25,000. California State Teachers Retirement System bought a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $45,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Amylyx Pharmaceuticals by 954.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock worth $47,000 after purchasing an additional 3,493 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Amylyx Pharmaceuticals by 433.2% in the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after purchasing an additional 5,904 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.