Amylyx Pharmaceuticals (NASDAQ:AMLX) Given New $39.00 Price Target at Mizuho

Key Points

• Mizuho raised its price target on Amylyx Pharmaceuticals from $38 to $39 and maintained an “outperform” rating, implying about 29% upside from the stock’s cited price of $30.22.
• Analyst views are mostly positive: MarketBeat reported a consensus “Buy” rating and a $43.71 average price target, though one analyst rated the shares “Sell.”
• Amylyx reported quarterly earnings per share of -$0.38, matching the consensus estimate; analysts expected a full-year loss of $1.49 per share.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its target price upped by stock analysts at Mizuho from $38.00 to $39.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price target points to a potential upside of 29.04% from the company's current price.

AMLX has been the subject of several other reports. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Tuesday, November 3rd. Stifel Nicolaus set a $45.00 target price on Amylyx Pharmaceuticals in a research note on Thursday. Wolfe Research raised Amylyx Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 17th. HC Wainwright assumed coverage on Amylyx Pharmaceuticals in a research report on Thursday, November 5th. They set a "strong-buy" rating for the company. Finally, Citigroup boosted their price objective on Amylyx Pharmaceuticals from $32.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $43.71.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX traded up $0.01 during trading hours on Tuesday, hitting $30.22. The stock had a trading volume of 705,365 shares, compared to its average volume of 1,621,982. The company has a 50 day simple moving average of $29.91 and a two-hundred day simple moving average of $20.48. Amylyx Pharmaceuticals has a one year low of $10.83 and a one year high of $41.14. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -20.96 and a beta of -0.09.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.38) earnings per share for the quarter, hitting the consensus estimate of ($0.38). Equities research analysts anticipate that Amylyx Pharmaceuticals will post -1.49 earnings per share for the current year.

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 9,536 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $32.46, for a total value of $309,538.56. Following the transaction, the insider owned 190,838 shares of the company's stock, valued at $6,194,601.48. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director M Jr sold 30,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $27.70, for a total value of $831,000.00. Following the completion of the transaction, the director directly owned 782,881 shares in the company, valued at approximately $21,685,803.70. This represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,374 shares of company stock valued at $1,815,257 over the last ninety days. 10.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Amylyx Pharmaceuticals in the second quarter worth approximately $158,534,000. Jupiter Topco LLC purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter worth approximately $94,014,000. Janus Henderson Group PLC raised its stake in shares of Amylyx Pharmaceuticals by 11.6% during the first quarter. Janus Henderson Group PLC now owns 4,986,073 shares of the company's stock worth $69,257,000 after acquiring an additional 520,201 shares in the last quarter. Siren L.L.C. bought a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter worth approximately $17,097,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter worth approximately $18,912,000. 95.84% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.