Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Target Price at $7.33

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $7.33.

Several equities research analysts have recently weighed in on the stock. Baird R W upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Amylyx Pharmaceuticals in a research note on Thursday, December 5th. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $3.00 to $11.00 in a report on Monday, November 18th. Finally, Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research note on Friday, October 18th.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX opened at $3.60 on Wednesday. Amylyx Pharmaceuticals has a 1-year low of $1.58 and a 1-year high of $19.95. The stock has a market cap of $246.78 million, a P/E ratio of -0.94 and a beta of -0.53. The firm has a fifty day moving average price of $4.54 and a 200 day moving average price of $3.53.

Insider Activity at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.04, for a total transaction of $30,182.84. Following the transaction, the chief executive officer now directly owns 3,176,788 shares in the company, valued at approximately $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after purchasing an additional 5,104 shares in the last quarter. Algert Global LLC acquired a new stake in Amylyx Pharmaceuticals in the second quarter valued at $47,000. Hsbc Holdings PLC increased its position in shares of Amylyx Pharmaceuticals by 57.9% in the second quarter. Hsbc Holdings PLC now owns 76,261 shares of the company’s stock valued at $150,000 after buying an additional 27,954 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $156,000. Finally, Maven Securities LTD increased its holdings in Amylyx Pharmaceuticals by 300.0% during the 2nd quarter. Maven Securities LTD now owns 100,000 shares of the company’s stock valued at $190,000 after acquiring an additional 75,000 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

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.