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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $23.00.

Several research 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 issued a “buy” rating and a $21.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. Mizuho upped their price objective on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMLX. Commodore Capital LP acquired a new position in shares of Amylyx Pharmaceuticals during the 3rd quarter worth $55,386,000. First Light Asset Management LLC acquired a new position in shares of Amylyx Pharmaceuticals during the 3rd quarter worth $45,606,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Amylyx Pharmaceuticals by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after purchasing an additional 3,102,395 shares during the last quarter. Millennium Management LLC increased its stake in shares of Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after purchasing an additional 2,487,617 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Amylyx Pharmaceuticals by 76.1% during the 4th quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company’s stock worth $53,992,000 after purchasing an additional 1,929,639 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Stock Performance

Amylyx Pharmaceuticals stock opened at $14.35 on Friday. The firm has a market cap of $1.60 billion, a PE ratio of -9.57 and a beta of -0.11. The firm’s 50 day moving average price is $15.16 and its two-hundred day moving average price is $14.25. Amylyx Pharmaceuticals has a twelve month low of $4.70 and a twelve month high of $18.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Equities analysts anticipate that Amylyx Pharmaceuticals will post -1.39 EPS for the current fiscal 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.