Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $57.00 at Guggenheim

Key Points

• Guggenheim raised Amylyx Pharmaceuticals’ price target to $57 from $55 and maintained a “buy” rating, implying 54.77% potential upside from the stock’s current price.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating and an average target price of $36.50, although one analyst maintains a sell rating.
• Amylyx shares opened at $36.83, near their 52-week high of $41.14, while the company recently reported a quarterly loss of $0.39 per share, missing estimates by $0.03.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its target price lifted by Guggenheim from $55.00 to $57.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's price objective suggests a potential upside of 54.77% from the company's current price.

AMLX has been the topic of a number of other reports. HC Wainwright raised their target price on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, August 18th. Robert W. Baird increased their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 19th. Mizuho increased their price target on Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Finally, Citigroup boosted their price objective on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $36.50.

Amylyx Pharmaceuticals Stock Performance

Shares of NASDAQ AMLX opened at $36.83 on Thursday. The company's fifty day moving average price is $21.72 and its 200 day moving average price is $17.20. Amylyx Pharmaceuticals has a 1 year low of $9.15 and a 1 year high of $41.14. The company has a market capitalization of $4.10 billion, a PE ratio of -26.02 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.03). On average, equities analysts expect that Amylyx Pharmaceuticals will post -1.48 EPS for the current year.

Insider Activity

In other news, insider Gina Mazzariello sold 15,000 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the sale, the insider owned 194,090 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. 10.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in Amylyx Pharmaceuticals by 2,106.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,434,501 shares of the company's stock worth $25,764,000 after buying an additional 1,369,499 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $18,912,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Amylyx Pharmaceuticals by 10.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,407 shares of the company's stock valued at $3,114,000 after acquiring an additional 16,318 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Amylyx Pharmaceuticals by 27.5% in the second quarter. Hsbc Holdings PLC now owns 14,554 shares of the company's stock worth $269,000 after acquiring an additional 3,140 shares during the last quarter. Finally, Nantahala Capital Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter worth approximately $8,740,845,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

About Amylyx Pharmaceuticals

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