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

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $24.25.

Several equities analysts have recently weighed in on AMLX shares. Guggenheim raised their price objective on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Finally, Mizuho upped their price objective on Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th.

Insider Buying and Selling

In other news, insider Gina Mazzariello sold 15,000 shares of Amylyx Pharmaceuticals stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares of the company’s stock, valued at $3,555,728.80. This trade represents a 7.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $25,000. KBC Group NV acquired a new position in Amylyx Pharmaceuticals during the first quarter worth approximately $26,000. California State Teachers Retirement System acquired a new position in Amylyx Pharmaceuticals during the second quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd raised its stake in Amylyx Pharmaceuticals by 954.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock valued at $47,000 after buying an additional 3,493 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Amylyx Pharmaceuticals by 433.2% in the second 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. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Trading Up 4.3%

Amylyx Pharmaceuticals stock opened at $17.75 on Friday. The company has a market cap of $1.97 billion, a P/E ratio of -11.83 and a beta of -0.20. Amylyx Pharmaceuticals has a 1-year low of $7.48 and a 1-year high of $19.15. The company has a fifty day simple moving average of $15.51 and a 200 day simple moving average of $14.95.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03). On average, equities research analysts forecast that Amylyx Pharmaceuticals will post -1.4 EPS for the current 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.