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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $23.00.

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Stifel Nicolaus assumed coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Guggenheim lifted their price target on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, Mizuho lifted their price target on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. lifted its stake in Amylyx Pharmaceuticals by 17.5% in the fourth quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock worth $148,000 after acquiring an additional 1,825 shares during the last quarter. KBC Group NV purchased a new position in Amylyx Pharmaceuticals in the first quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Amylyx Pharmaceuticals by 54.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock worth $64,000 after acquiring an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Amylyx Pharmaceuticals in the fourth quarter worth approximately $25,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Amylyx Pharmaceuticals by 14.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock worth $216,000 after acquiring an additional 2,265 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Trading Up 0.6%

Amylyx Pharmaceuticals stock opened at $16.37 on Wednesday. Amylyx Pharmaceuticals has a 12-month low of $5.31 and a 12-month high of $18.60. The stock has a market cap of $1.82 billion, a P/E ratio of -10.91 and a beta of -0.16. The company has a 50-day moving average price of $15.09 and a 200 day moving average price of $14.32.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, analysts forecast that Amylyx Pharmaceuticals will post -1.4 EPS for the current 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.