Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $16.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price raised by Bank of America from $14.00 to $16.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on AMLX. Jefferies Financial Group initiated coverage on Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They set a “hold” rating on the stock. Guggenheim raised their target price on Amylyx Pharmaceuticals from $17.00 to $25.00 and gave the company a “buy” rating in a report on Monday, September 15th. Citigroup initiated coverage on Amylyx Pharmaceuticals in a research report on Tuesday, June 17th. They issued a “buy” rating and a $12.00 target price for the company. UBS Group raised shares of Amylyx Pharmaceuticals to a “hold” rating in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group raised their price objective on shares of Amylyx Pharmaceuticals from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.75.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX stock opened at $13.42 on Friday. Amylyx Pharmaceuticals has a 1-year low of $2.60 and a 1-year high of $15.15. The firm has a market cap of $1.20 billion, a PE ratio of -5.37 and a beta of -0.33. The company has a 50-day moving average of $10.29 and a two-hundred day moving average of $7.05.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.02). Sell-side analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Camille L. Bedrosian sold 12,039 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $14.58, for a total value of $175,528.62. Following the completion of the sale, the insider directly owned 182,336 shares of the company’s stock, valued at $2,658,458.88. This represents a 6.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joshua B. Cohen sold 29,933 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.35, for a total value of $429,538.55. Following the transaction, the chief executive officer directly owned 3,325,347 shares in the company, valued at approximately $47,718,729.45. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 91,333 shares of company stock worth $1,319,495. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMLX. China Universal Asset Management Co. Ltd. raised its holdings in shares of Amylyx Pharmaceuticals by 18.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,188 shares of the company’s stock valued at $61,000 after buying an additional 2,653 shares during the last quarter. Hsbc Holdings PLC increased its position in Amylyx Pharmaceuticals by 24.7% in the 1st quarter. Hsbc Holdings PLC now owns 14,419 shares of the company’s stock valued at $51,000 after acquiring an additional 2,853 shares during the period. California State Teachers Retirement System purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at approximately $28,000. BNP Paribas Financial Markets raised its stake in Amylyx Pharmaceuticals by 433.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock valued at $47,000 after acquiring an additional 5,904 shares during the last quarter. Finally, R Squared Ltd lifted its position in Amylyx Pharmaceuticals by 99.9% during the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock worth $45,000 after acquiring an additional 6,366 shares during the period. 95.84% of the stock is owned by hedge funds and other institutional investors.

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.