Amylyx Pharmaceuticals (NASDAQ:AMLX) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Amylyx Pharmaceuticals reached a new 52-week high, trading as high as $28.95 after Mizuho raised its price target from $24 to $30 and maintained an outperform rating.
• Analyst sentiment is mixed but generally positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $26.12, while individual targets range from $26 to $40.
• The company reported a quarterly loss of $0.39 per share, missing the $0.36 consensus estimate. Insider ownership stands at 10.90%, while institutional investors and hedge funds own 95.84% of the stock.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after Mizuho raised their price target on the stock from $24.00 to $30.00. Mizuho currently has an outperform rating on the stock. Amylyx Pharmaceuticals traded as high as $28.95 and last traded at $29.8120, with a volume of 3475697 shares changing hands. The stock had previously closed at $21.43.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Citigroup lifted their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Guggenheim raised their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $34.00 target price on shares of Amylyx Pharmaceuticals in a report 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 MarketBeat, Amylyx Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $26.12.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the 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 transaction, the insider directly owned 194,090 shares of the company's stock, valued at approximately $3,555,728.80. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.90% of the stock is currently owned by company insiders.

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in Amylyx Pharmaceuticals in the fourth quarter valued at approximately $25,000. KBC Group NV purchased a new position in shares of Amylyx Pharmaceuticals during the 1st quarter valued at approximately $26,000. California State Teachers Retirement System acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth $28,000. State of Wyoming acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Amylyx Pharmaceuticals by 954.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock worth $47,000 after purchasing an additional 3,493 shares during the period. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals Stock Up 36.9%

The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -21.17 and a beta of -0.21. The stock has a 50 day simple moving average of $18.44 and a 200 day simple moving average of $16.04.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.03). As a group, analysts forecast that Amylyx Pharmaceuticals, Inc. will post -1.45 EPS for the current year.

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.

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

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