Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $39.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective raised by investment analysts at Mizuho from $38.00 to $39.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho‘s price objective would suggest a potential upside of 29.04% from the stock’s previous close.

A number of other brokerages have also recently commented on AMLX. Robert W. Baird lifted their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Stifel Nicolaus set a $45.00 target price on shares of Amylyx Pharmaceuticals in a report on Thursday. Citigroup raised their target price on shares of Amylyx Pharmaceuticals from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Wolfe Research raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Tuesday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $43.71.

Amylyx Pharmaceuticals Trading Up 0.0%

Shares of NASDAQ:AMLX traded up $0.01 on Tuesday, reaching $30.22. 705,365 shares of the company traded hands, compared to its average volume of 1,621,982. The business’s 50-day simple moving average is $29.91 and its 200 day simple moving average is $20.48. Amylyx Pharmaceuticals has a 52 week low of $10.83 and a 52 week high of $41.14. The stock has a market capitalization of $3.37 billion, a P/E ratio of -20.96 and a beta of -0.09.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.38) EPS for the quarter, hitting the consensus estimate of ($0.38). Sell-side analysts expect that Amylyx Pharmaceuticals will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Camille Bedrosian sold 10,028 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $32.40, for a total transaction of $324,907.20. Following the transaction, the insider directly owned 278,064 shares of the company’s stock, valued at approximately $9,009,273.60. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director M Jr sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $27.70, for a total value of $831,000.00. Following the transaction, the director owned 782,881 shares of the company’s stock, valued at approximately $21,685,803.70. This represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,374 shares of company stock valued at $1,815,257 in the last 90 days. 10.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of institutional investors have recently bought and sold shares of AMLX. GAMMA Investing LLC grew its stake in shares of Amylyx Pharmaceuticals by 163.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,139 shares of the company’s stock valued at $33,000 after acquiring an additional 706 shares during the period. ProShare Advisors LLC increased its holdings in Amylyx Pharmaceuticals by 10.7% in the 3rd quarter. ProShare Advisors LLC now owns 17,360 shares of the company’s stock worth $505,000 after acquiring an additional 1,675 shares in the last quarter. Arizona State Retirement System raised its stake in Amylyx Pharmaceuticals by 9.5% during the 2nd quarter. Arizona State Retirement System now owns 19,825 shares of the company’s stock worth $356,000 after acquiring an additional 1,726 shares during the period. KBC Group NV bought a new stake in Amylyx Pharmaceuticals during the 1st quarter worth approximately $26,000. Finally, State of Wyoming purchased a new position in Amylyx Pharmaceuticals during the second quarter valued at approximately $40,000. 95.84% of the stock is owned by institutional investors.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc is a biopharmaceutical company dedicated to developing treatments for rare and debilitating neurological diseases. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company focuses on leveraging novel approaches to target cellular pathways implicated in neurodegeneration. Amylyx’s research platform centers on small-molecule therapies designed to protect neurons and support cellular health in patients with conditions that currently have limited or no disease-modifying treatment options.