Brokerages Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) PT at $11.43

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.43.

AMLX has been the subject of a number of analyst reports. HC Wainwright upped their price objective on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Leerink Partners set a $4.00 price target on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a report on Friday, October 18th. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Bank of America upgraded Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Finally, Robert W. Baird raised Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $3.00 to $11.00 in a research note on Monday, November 18th.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $5.74 on Tuesday. The stock has a market capitalization of $393.48 million, a price-to-earnings ratio of -1.50 and a beta of -0.70. The firm’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $2.90. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $19.95.

Insider Activity

In other news, insider Camille L. Bedrosian sold 11,442 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $36,614.40. Following the transaction, the insider now directly owns 143,801 shares in the company, valued at $460,163.20. The trade was a 7.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George M. Milne, Jr. purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the acquisition, the director now owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. The trade was a 13.18 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in shares of Amylyx Pharmaceuticals by 2,768.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock valued at $6,348,000 after acquiring an additional 3,224,454 shares during the last quarter. Almitas Capital LLC acquired a new position in Amylyx Pharmaceuticals in the 2nd quarter valued at about $3,617,000. abrdn plc grew its stake in shares of Amylyx Pharmaceuticals by 1,567.9% in the 3rd quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after buying an additional 1,853,995 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth approximately $2,300,000. Finally, Farallon Capital Management LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter valued at approximately $3,267,000. Institutional investors and hedge funds 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.