Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $30.00

Key Points

• Mizuho raised Amylyx Pharmaceuticals’ price target to $30 from $24 and maintained an “outperform” rating, implying 38.7% upside from the prior close.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and average price target of $26.12, though ratings range from Strong Buy to Sell.
• Amylyx reported a quarterly loss of $0.39 per share, missing estimates by $0.03; the stock opened at $21.63, while institutional investors and hedge funds own 95.84% of its shares.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its target price hoisted by equities research analysts at Mizuho from $24.00 to $30.00 in a report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price target points to a potential upside of 38.70% from the stock's previous close.

A number of other research analysts also recently issued reports on AMLX. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Citigroup upped their price objective on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. HC Wainwright reaffirmed a "buy" rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a report on Monday, June 8th. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, Guggenheim increased their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $26.12.

Amylyx Pharmaceuticals Stock Performance

NASDAQ:AMLX opened at $21.63 on Monday. The company has a market capitalization of $2.41 billion, a P/E ratio of -15.13 and a beta of -0.21. Amylyx Pharmaceuticals has a 12 month low of $7.63 and a 12 month high of $24.60. The firm has a fifty day simple moving average of $18.28 and a 200-day simple moving average of $16.00.

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

Insider Buying and Selling

In other news, insider Gina Mazzariello sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The stock was 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 $3,555,728.80. The trade was a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.90% of the company's stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in AMLX. BlackRock Inc. purchased a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth about $158,534,000. Adage Capital Partners GP L.L.C. increased its stake in Amylyx Pharmaceuticals by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company's stock worth $56,408,000 after buying an additional 3,102,395 shares in the last quarter. Perceptive Advisors LLC increased its stake in Amylyx Pharmaceuticals by 0.4% during the 2nd quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company's stock worth $50,654,000 after buying an additional 28,017 shares in the last quarter. TCG Crossover Management LLC raised its holdings in shares of Amylyx Pharmaceuticals by 5.0% during the third quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company's stock valued at $84,853,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Amylyx Pharmaceuticals by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company's stock valued at $70,123,000 after acquiring an additional 531,162 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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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