Amylyx Pharmaceuticals Inc (NASDAQ: AMLX) Stock Forecast 2024: Profitable With Bullish Signals

In today’s recent session, 0.5 million shares of the Amylyx Pharmaceuticals Inc (NASDAQ:AMLX) have been traded, and its beta is -0.92. Most recently the company’s share price was $2.60, and it changed around -$0.11 or -4.03% from the last close, which brings the market valuation of the company to $176.29M. AMLX at last check was trading at a discount to its 52-week high of $31.77, offering almost -1121.92% off that amount. The share price’s 52-week low was $2.67, which indicates that the recent value has fallen by an impressive -2.69% since then. We note from Amylyx Pharmaceuticals Inc’s average daily trading volume that its 10-day average is 2.19 million shares, with the 3-month average coming to 2.96 million.

Amylyx Pharmaceuticals Inc (NASDAQ:AMLX) trade information

Instantly AMLX has been showing red trend so far today with a performance of -4.03% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -82.33% year-to-date, but still down -4.03% over the last five days. On the other hand, Amylyx Pharmaceuticals Inc (NASDAQ:AMLX) is -86.10% down in the 30-day period. We can see from the shorts that 5.09 million shares have been sold at a short interest cover period of 0.84 day(s).

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The consensus price target as assigned by Wall Street analysts is $4, which translates to bulls needing to increase their stock price by 35.0% from its current value. Analyst projections state that AMLX is forecast to be at a low of $4 and a high of $4.

Amylyx Pharmaceuticals Inc (AMLX) estimates and forecasts

Amylyx Pharmaceuticals Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -85.80 percent over the past six months and at a -168.57% annual growth rate that is well below the industry average of 8.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -100.00% in revenue this quarter, and will report a decrease of -258.10% in the next quarter. The year-over-year growth rate is expected to be -53.00%, down from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $99.47 million in revenue for the current quarter. 4 analysts expect Amylyx Pharmaceuticals Inc to make $44.92 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $71.43 million and $98.22 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 39.30%. Forecasts for the next quarter put sales growth at -54.30%.

AMLX Dividends

Amylyx Pharmaceuticals Inc’s next quarterly earnings report is expected to be released around May 10 and May 14.

Amylyx Pharmaceuticals Inc (NASDAQ:AMLX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 14.24% of Amylyx Pharmaceuticals Inc shares, and 104.77% of them are in the hands of institutional investors. The stock currently has a share float of 122.16%. Amylyx Pharmaceuticals Inc stock is held by 243 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 7.31% of the shares, which is about 4.93 million shares worth $106.25 million.

Perceptive Advisors Llc, with 7.23% or 4.87 million shares worth $105.13 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 1.66 million shares worth $35.78 million, making up 2.46% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 1.39 million shares worth around $29.93 million, which represents about 2.06% of the total shares outstanding.