Amylyx Pharmaceuticals (NASDAQ:AMLX) Shares Up 6%

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLXGet Rating) traded up 6% on Friday . The company traded as high as $36.87 and last traded at $36.61. 13,324 shares changed hands during trading, a decline of 98% from the average session volume of 782,748 shares. The stock had previously closed at $34.53.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. HC Wainwright raised their target price on Amylyx Pharmaceuticals from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, October 24th. Bank of America started coverage on shares of Amylyx Pharmaceuticals in a research note on Thursday, January 5th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Citigroup increased their price target on shares of Amylyx Pharmaceuticals to $51.00 in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Amylyx Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $48.20.

Amylyx Pharmaceuticals Price Performance

The stock’s 50-day simple moving average is $36.35 and its 200 day simple moving average is $30.98.

Amylyx Pharmaceuticals (NASDAQ:AMLXGet Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.05. The company had revenue of $0.35 million during the quarter. Equities research analysts forecast that Amylyx Pharmaceuticals, Inc. will post -3.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. High Net Worth Advisory Group LLC boosted its position in Amylyx Pharmaceuticals by 33.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 2,000 shares of the company’s stock valued at $56,000 after buying an additional 500 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Amylyx Pharmaceuticals during the 3rd quarter worth about $51,000. Emerald Advisers LLC acquired a new stake in Amylyx Pharmaceuticals in the 3rd quarter valued at about $16,925,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Amylyx Pharmaceuticals in the 3rd quarter valued at about $13,284,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Amylyx Pharmaceuticals during the third quarter worth about $475,000. 70.55% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Company Profile

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Amylyx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis.

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