Amylyx Pharmaceuticals (NASDAQ:AMLX) Reaches New 52-Week High – What’s Next?

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $14.61 and last traded at $14.25, with a volume of 65483 shares trading hands. The stock had previously closed at $14.52.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMLX shares. Citigroup started coverage on Amylyx Pharmaceuticals in a research note on Tuesday, June 17th. They set a “buy” rating and a $12.00 price objective for the company. Guggenheim lifted their price objective on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Wall Street Zen upgraded Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Bank of America boosted their price target on Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, The Goldman Sachs Group boosted their price target on Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Amylyx Pharmaceuticals has a consensus rating of “Buy” and an average price target of $14.50.

Amylyx Pharmaceuticals Price Performance

The stock has a market cap of $1.30 billion, a PE ratio of -5.84 and a beta of -0.45. The company has a 50 day moving average price of $9.73 and a two-hundred day moving average price of $6.69.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). As a group, equities analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Institutional Trading of Amylyx Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Amylyx Pharmaceuticals by 7.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after acquiring an additional 143,065 shares during the last quarter. Woodline Partners LP purchased a new stake in Amylyx Pharmaceuticals during the first quarter valued at $5,697,000. Invesco Ltd. purchased a new stake in Amylyx Pharmaceuticals during the first quarter valued at $162,000. American Century Companies Inc. increased its position in Amylyx Pharmaceuticals by 80.4% during the first quarter. American Century Companies Inc. now owns 107,014 shares of the company’s stock valued at $379,000 after acquiring an additional 47,704 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Amylyx Pharmaceuticals during the first quarter valued at $20,170,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.