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

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $7.33.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Wednesday, March 5th.

Insiders Place Their Bets

In other news, Director Bernhardt G. Zeiher acquired 10,000 shares of Amylyx Pharmaceuticals stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $3.70 per share, with a total value of $37,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $37,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joshua B. Cohen sold 11,851 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $3.47, for a total value of $41,122.97. Following the sale, the chief executive officer now directly owns 3,201,247 shares in the company, valued at $11,108,327.09. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,980 shares of company stock worth $252,769 in the last 90 days. 11.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in shares of Amylyx Pharmaceuticals by 292.0% during the 3rd quarter. FMR LLC now owns 221,001 shares of the company’s stock valued at $716,000 after buying an additional 164,622 shares in the last quarter. Walleye Capital LLC raised its position in Amylyx Pharmaceuticals by 986.5% during the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after purchasing an additional 608,874 shares during the period. Barclays PLC lifted its stake in shares of Amylyx Pharmaceuticals by 91.1% in the 3rd quarter. Barclays PLC now owns 84,572 shares of the company’s stock valued at $274,000 after purchasing an additional 40,319 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 17.5% in the 3rd quarter. Geode Capital Management LLC now owns 551,039 shares of the company’s stock worth $1,786,000 after purchasing an additional 82,173 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Amylyx Pharmaceuticals by 144.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company’s stock valued at $455,000 after purchasing an additional 83,048 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX opened at $3.43 on Monday. The company has a market capitalization of $303.90 million, a P/E ratio of -0.90 and a beta of -0.51. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $7.27. The firm’s 50 day simple moving average is $3.55 and its two-hundred day simple moving average is $4.05.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Tuesday, March 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The company had revenue of ($0.67) million for the quarter. On average, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.