Citigroup Issues Positive Forecast for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price

Key Points

• Citigroup raised Amylyx Pharmaceuticals’ price target from $32 to $39 and maintained a “buy” rating, implying approximately 40% upside from the reported share price.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating and a $40.71 average price target, despite one “Sell” rating.
• Amylyx shares traded at $27.82, while the company recently reported a quarterly loss of $0.39 per share, missing analysts’ estimate by $0.03; insiders have also sold shares over the past 90 days.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its price target raised by equities researchers at Citigroup from $32.00 to $39.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 40.18% from the company's current price.

A number of other research firms have also weighed in on AMLX. HC Wainwright upped their price objective on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. Mizuho increased their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an "outperform" rating in a report on Tuesday, August 18th. Wolfe Research upgraded shares of Amylyx Pharmaceuticals to a "strong-buy" rating in a research report on Monday, August 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Finally, Guggenheim upped their target price on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $40.71.

Amylyx Pharmaceuticals Price Performance

NASDAQ AMLX traded up $0.79 during trading hours on Thursday, reaching $27.82. 350,392 shares of the company's stock traded hands, compared to its average volume of 1,646,962. The firm has a market cap of $3.10 billion, a PE ratio of -19.45 and a beta of -0.10. Amylyx Pharmaceuticals has a 52-week low of $10.83 and a 52-week high of $41.14. The firm has a 50-day simple moving average of $30.77 and a 200 day simple moving average of $21.38.

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 (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Sell-side analysts forecast that Amylyx Pharmaceuticals will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO James Frates sold 10,810 shares of Amylyx Pharmaceuticals stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $32.36, for a total transaction of $349,811.60. Following the completion of the transaction, the chief financial officer directly owned 233,625 shares of the company's stock, valued at approximately $7,560,105. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company's stock in a transaction that occurred 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 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. Over the last 90 days, insiders have sold 60,374 shares of company stock worth $1,815,257. 10.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of AMLX. GAMMA Investing LLC grew its stake in shares of Amylyx Pharmaceuticals by 163.0% in the third quarter. GAMMA Investing LLC now owns 1,139 shares of the company's stock valued at $33,000 after buying an additional 706 shares in the last quarter. KBC Group NV acquired a new position in Amylyx Pharmaceuticals during the 1st quarter worth about $26,000. State of Wyoming acquired a new position in Amylyx Pharmaceuticals during the 2nd quarter worth about $40,000. Caitong International Asset Management Co. Ltd lifted its stake in Amylyx Pharmaceuticals by 954.4% during the 4th 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 in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Amylyx Pharmaceuticals during the 2nd quarter valued at about $157,000. Institutional investors and hedge funds own 95.84% of the company's stock.

About Amylyx Pharmaceuticals

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