Citigroup Begins Coverage on Amylyx Pharmaceuticals (NASDAQ:AMLX)

Stock analysts at Citigroup initiated coverage on shares of Amylyx Pharmaceuticals (NASDAQ:AMLX) in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Citigroup’s price objective points to a potential upside of 135.29% from the company’s previous close.

AMLX has been the topic of several other research reports. HC Wainwright upped their price target on Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 9th. Leerink Partners raised Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the company from $4.00 to $10.00 in a report on Wednesday, May 7th. Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Mizuho boosted their target price on shares of Amylyx Pharmaceuticals from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. Finally, Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $10.14.

Amylyx Pharmaceuticals Trading Down 4.3%

AMLX opened at $5.10 on Tuesday. Amylyx Pharmaceuticals has a twelve month low of $1.62 and a twelve month high of $7.27. The stock has a market cap of $454.61 million, a PE ratio of -1.64 and a beta of -0.59. The business’s 50 day moving average is $4.89 and its 200-day moving average is $4.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.03. As a group, analysts forecast that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insiders Place Their Bets

In other news, insider Camille L. Bedrosian sold 12,425 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $43,114.75. Following the completion of the transaction, the insider now owns 194,375 shares in the company, valued at $674,481.25. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua B. Cohen sold 21,490 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $74,570.30. Following the completion of the transaction, the chief executive officer now owns 3,355,280 shares of the company’s stock, valued at $11,642,821.60. The trade was a 0.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,811 shares of company stock worth $155,494. 11.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in Amylyx Pharmaceuticals by 232.1% during the fourth quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after purchasing an additional 4,883 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter worth approximately $35,000. Fox Run Management L.L.C. bought a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter worth approximately $45,000. Alpine Global Management LLC bought a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter worth approximately $45,000. Finally, RPO LLC bought a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter worth approximately $46,000. 95.84% of the stock is currently owned by 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.