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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $17.25.

Several research firms have recently weighed in on AMLX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday. Robert W. Baird lifted their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Lifesci Capital raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 27th. Bank of America raised their price target on Amylyx Pharmaceuticals from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, The Goldman Sachs Group lifted their price target on Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th.

Insider Transactions at Amylyx Pharmaceuticals

In related news, insider Camille L. Bedrosian sold 6,580 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $14.35, for a total transaction of $94,423.00. Following the sale, the insider owned 175,756 shares of the company’s stock, valued at approximately $2,522,098.60. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karen Firestone bought 8,100 shares of the stock in a transaction on Tuesday, December 23rd. The stock was purchased at an average price of $12.45 per share, for a total transaction of $100,845.00. Following the completion of the purchase, the director directly owned 63,100 shares in the company, valued at approximately $785,595. This represents a 14.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Amylyx Pharmaceuticals in the first quarter worth $20,170,000. Commodore Capital LP bought a new position in Amylyx Pharmaceuticals in the 3rd quarter worth about $55,386,000. First Light Asset Management LLC bought a new position in Amylyx Pharmaceuticals in the 3rd quarter worth about $45,606,000. Millennium Management LLC raised its holdings in shares of Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after acquiring an additional 2,487,617 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP bought a new position in shares of Amylyx Pharmaceuticals in the third quarter worth approximately $25,821,000. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $12.00 on Wednesday. Amylyx Pharmaceuticals has a one year low of $2.60 and a one year high of $16.96. The business’s fifty day moving average price is $13.40 and its 200-day moving average price is $11.02. The stock has a market capitalization of $1.32 billion, a PE ratio of -6.67 and a beta of -0.34.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.06. As a group, equities analysts expect that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Amylyx Pharmaceuticals Company Profile

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.