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

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price lifted by Bank of America from $15.00 to $19.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Lifesci Capital upgraded shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research report on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Monday, December 29th. Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Finally, HC Wainwright lifted their price target on Amylyx Pharmaceuticals from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $18.63.

Amylyx Pharmaceuticals Trading Down 0.1%

AMLX stock opened at $14.01 on Friday. The firm has a 50 day moving average of $13.47 and a 200-day moving average of $12.76. The firm has a market capitalization of $1.54 billion, a P/E ratio of -7.78 and a beta of -0.31. Amylyx Pharmaceuticals has a 12 month low of $2.60 and a 12 month high of $17.49.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 1,995 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $13.89, for a total value of $27,710.55. Following the completion of the sale, the chief executive officer directly owned 3,379,398 shares of the company’s stock, valued at $46,939,838.22. The trade was a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Karen Firestone purchased 8,100 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were acquired at an average price of $12.45 per share, with a total value of $100,845.00. Following the completion of the transaction, the director owned 63,100 shares of the company’s stock, valued at approximately $785,595. This trade represents a 14.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 157,783 shares of company stock worth $2,122,808. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new position in Amylyx Pharmaceuticals during the 4th quarter worth approximately $25,000. California State Teachers Retirement System bought a new position in shares of Amylyx Pharmaceuticals in the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter worth $45,000. BNP Paribas Financial Markets boosted its position in Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after buying an additional 5,904 shares during the period. Finally, Legal & General Group Plc bought a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth $47,000. Institutional investors 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.