Amylyx Pharmaceuticals (NASDAQ:AMLX) Given New $26.00 Price Target at Citigroup

Key Points

• Citigroup raised Amylyx Pharmaceuticals’ price target to $26 from $20 and maintained a “buy” rating, implying 28.48% upside from the previous close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $25.38; targets from other firms range as high as $40.
• Shares traded at $20.24, near their 52-week high of $20.94, while Amylyx reported a quarterly EPS loss of $0.37, missing estimates by $0.03.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its price target hoisted by Citigroup from $20.00 to $26.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective suggests a potential upside of 28.48% from the stock's previous close.

A number of other research firms also recently commented on AMLX. Mizuho increased their price objective on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the stock an "outperform" rating in a research note on Monday, July 20th. Wall Street Zen lowered Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Guggenheim raised their price target on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.38.

Amylyx Pharmaceuticals Price Performance

Shares of AMLX traded down $0.07 during mid-day trading on Monday, hitting $20.24. 1,047,015 shares of the company's stock were exchanged, compared to its average volume of 1,375,796. The company has a market cap of $2.25 billion, a PE ratio of -13.39 and a beta of -0.21. Amylyx Pharmaceuticals has a 52 week low of $7.48 and a 52 week high of $20.94. The company has a 50-day simple moving average of $16.55 and a 200 day simple moving average of $15.47.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.03). On average, analysts anticipate that Amylyx Pharmaceuticals will post -1.4 earnings per share for the current year.

Insider Activity

In related news, insider Gina Mazzariello sold 15,000 shares of the firm's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the sale, the insider directly owned 194,090 shares in the company, valued at approximately $3,555,728.80. This trade represents a 7.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC raised its stake in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock valued at $10,910,000 after acquiring an additional 2,487,617 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Amylyx Pharmaceuticals by 7.7% in 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. increased its holdings in shares of Amylyx Pharmaceuticals by 62.7% in 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 position in shares of Amylyx Pharmaceuticals in the second quarter valued at about $47,000. Finally, Rhumbline Advisers bought a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at about $645,000. 95.84% of the stock is currently owned by institutional investors.

About Amylyx Pharmaceuticals

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.

The company's lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.

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