Amylyx Pharmaceuticals (NASDAQ:AMLX) Sees Unusually-High Trading Volume on Analyst Upgrade

Key Points

• AMLX trading volume rose 16% to 1.79 million shares after Guggenheim raised its price target from $40 to $55 and maintained a buy rating; shares traded near $37.31.
• Analyst sentiment is broadly bullish, with two strong-buy and eight buy ratings, though the consensus price target of $36.25 is below the stock’s latest price. Robert W. Baird and Wolfe Research also recently upgraded their views.
• Amylyx’s avexitide delivered positive results in the pivotal LUCIDITY trial, but investors still face regulatory, commercialization and valuation risks as the company remains loss-making; an insider also recently sold 15,000 shares.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) shares saw unusually-strong trading volume on Wednesday after Guggenheim raised their price target on the stock from $40.00 to $55.00. Guggenheim currently has a buy rating on the stock. 1,793,714 shares were traded during mid-day trading, an increase of 16% from the previous session's volume of 1,549,112 shares.The stock last traded at $37.3050 and had previously closed at $35.11.

AMLX has been the subject of several other research reports. Citigroup increased their price objective 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. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Wolfe Research raised shares of Amylyx Pharmaceuticals to a "strong-buy" rating in a report on Monday. Robert W. Baird lifted their price target on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Mizuho set a $42.00 price objective on shares of Amylyx Pharmaceuticals in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Amylyx Pharmaceuticals has an average rating of "Buy" and a consensus price target of $36.25.

Insider Activity at Amylyx Pharmaceuticals

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 approximately $3,555,728.80. The trade was a 7.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.90% of the company's stock.

More Amylyx Pharmaceuticals News

Here are the key news stories impacting Amylyx Pharmaceuticals this week:

• Positive Sentiment: Avexitide met both the primary and secondary endpoints in the pivotal LUCIDITY study. Reports indicated the treatment reduced hypoglycemia episodes by approximately 55% in patients who developed dangerously low blood sugar after bariatric surgery, strengthening the case for regulatory review and eventual commercialization. Reuters article
• Positive Sentiment: The late-stage clinical success represents a major validation of Amylyx’s lead program and was described as an outcome that Wall Street had not fully priced in. The company is now closer to potential commercialization of avexitide in PBH, an area with significant unmet medical need. Money Morning article
• Positive Sentiment: Analyst sentiment improved following the trial announcement. H.C. Wainwright raised its price target from $34 to $55 and maintained a buy rating, while Robert W. Baird increased its target from $28 to $52 and assigned an outperform rating. Wolfe Research also upgraded AMLX to strong-buy.
• Neutral Sentiment: Investors are now focused on the next steps, including detailed trial data, regulatory filings, approval timing, market size and Amylyx’s ability to manufacture and commercialize avexitide. The company has announced discussions of the LUCIDITY results with investors and analysts. Amylyx announcement
• Negative Sentiment: Some commentary cautions that the stock’s rally may have moved ahead of fundamentals. Approval is not guaranteed, and AMLX remains loss-making, leaving the shares vulnerable to profit-taking, valuation concerns and delays in commercialization. Invezz article

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new position in shares of Amylyx Pharmaceuticals in the 4th quarter worth about $25,000. KBC Group NV bought a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter valued at about $26,000. California State Teachers Retirement System bought a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter valued at about $28,000. State of Wyoming acquired a new stake in Amylyx Pharmaceuticals during the second quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Amylyx Pharmaceuticals by 954.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock worth $47,000 after acquiring an additional 3,493 shares during the period. Institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals Price Performance

The stock's fifty day simple moving average is $18.88 and its 200-day simple moving average is $16.19. The stock has a market cap of $4.24 billion, a P/E ratio of -26.67 and a beta of -0.21.

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

Amylyx Pharmaceuticals Company Profile

At Amylyx, our mission is to usher in a new era of treating diseases with high unmet needs.

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