Amylyx Pharmaceuticals (NASDAQ:AMLX) Given New $25.00 Price Target at Guggenheim

Key Points

• Guggenheim has increased its price target for Amylyx Pharmaceuticals from $17.00 to $25.00, indicating a potential upside of 114.59% from the stock's previous close and maintaining a "buy" rating.
• The stock's current average target price is $13.25, with a majority of analysts rating it as a "buy" or "strong buy."
• Amylyx Pharmaceuticals reported a loss of ($0.46) earnings per share for the last quarter, missing analysts' expectations by $0.02.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its price target hoisted by equities researchers at Guggenheim from $17.00 to $25.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's target price would suggest a potential upside of 114.59% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 24th. They set a "hold" rating on the stock. The Goldman Sachs Group upgraded shares of Amylyx Pharmaceuticals to a "buy" rating and set a $10.00 price objective on the stock in a research note on Thursday, July 10th. Citigroup initiated coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, June 17th. They issued a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Bank of America raised their price target on shares of Amylyx Pharmaceuticals from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $13.25.

Amylyx Pharmaceuticals Stock Down 1.6%

Amylyx Pharmaceuticals stock opened at $11.65 on Monday. The company has a market capitalization of $1.04 billion, a PE ratio of -4.66 and a beta of -0.45. The firm has a fifty day simple moving average of $8.64 and a two-hundred day simple moving average of $6.01. Amylyx Pharmaceuticals has a twelve month low of $2.48 and a twelve month high of $12.25.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). As a group, equities analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Institutional Trading of Amylyx Pharmaceuticals

A number of hedge funds have recently made changes to their positions in AMLX. Invesco Ltd. bought a new stake in shares of Amylyx Pharmaceuticals in the first quarter worth $162,000. American Century Companies Inc. raised its holdings in Amylyx Pharmaceuticals by 80.4% during the 1st quarter. American Century Companies Inc. now owns 107,014 shares of the company's stock worth $379,000 after buying an additional 47,704 shares during the period. Bank of America Corp DE raised its holdings in Amylyx Pharmaceuticals by 165.9% during the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company's stock worth $9,171,000 after buying an additional 1,513,748 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Amylyx Pharmaceuticals in the 1st quarter valued at about $20,170,000. Finally, Wellington Management Group LLP acquired a new position in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $793,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

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.

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