Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $57.00

by · The Markets Daily

Amylyx Pharmaceuticals (NASDAQ:AMLX – Free Report) had its price target raised by Guggenheim from $55.00 to $57.00 in a research note released on Thursday, MarketBeat reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on AMLX. Robert W. Baird boosted their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Mizuho lifted their target price on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Citigroup boosted their price target on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $36.50.

Check Out Our Latest Report on Amylyx Pharmaceuticals

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock opened at $34.74 on Thursday. The firm has a market cap of $3.87 billion, a P/E ratio of -24.29 and a beta of -0.21. Amylyx Pharmaceuticals has a fifty-two week low of $9.15 and a fifty-two week high of $41.14. The business’s 50 day moving average price is $22.53 and its 200-day moving average price is $17.49.

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, equities analysts predict that Amylyx Pharmaceuticals will post -1.48 EPS for the current year.

Insider Activity at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $274,800.00. Following the sale, the insider owned 194,090 shares in the company, valued at approximately $3,555,728.80. The trade was a 7.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC grew its holdings in Amylyx Pharmaceuticals by 418.6% in the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after purchasing an additional 2,487,617 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Amylyx Pharmaceuticals by 7.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after purchasing an additional 143,065 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Amylyx Pharmaceuticals by 62.7% during the second quarter. JPMorgan Chase & Co. now owns 87,989 shares of the company’s stock valued at $564,000 after purchasing an additional 33,920 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter worth approximately $47,000. Finally, Rhumbline Advisers bought a new stake in Amylyx Pharmaceuticals in the second quarter worth $645,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

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