Guggenheim Boosts Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target to $55.00

Key Points

• Guggenheim raised Amylyx Pharmaceuticals’ price target from $40 to $55 and maintained a “buy” rating, implying 52.22% upside from the previous close.
• Analyst sentiment is broadly positive: Amylyx has a consensus “Buy” rating and an average target price of $36.25, although Weiss Ratings reiterated a “sell” rating.
• Amylyx reported a quarterly EPS loss of $0.39, slightly worse than the $0.36 consensus estimate, while institutional investors own approximately 95.84% of the company’s shares.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its price objective hoisted by Guggenheim from $40.00 to $55.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price objective would suggest a potential upside of 52.22% from the company's previous close.

A number of other research analysts have also weighed in on the stock. Wolfe Research raised shares of Amylyx Pharmaceuticals to a "strong-buy" rating in a research note on Monday. HC Wainwright lifted their price objective on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday. Citigroup upped their target price on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Mizuho set a $42.00 price target on Amylyx Pharmaceuticals in a report on Tuesday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Amylyx Pharmaceuticals currently has a consensus rating of "Buy" and an average target price of $36.25.

Amylyx Pharmaceuticals Trading Up 2.9%

AMLX stock opened at $36.13 on Wednesday. Amylyx Pharmaceuticals has a 12-month low of $7.82 and a 12-month high of $36.50. The business's 50-day moving average is $18.88 and its 200 day moving average is $16.19. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -25.32 and a beta of -0.21.

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 the consensus estimate of ($0.36) by ($0.03). As a group, equities analysts forecast that Amylyx Pharmaceuticals will post -1.45 EPS for the current fiscal year.

Insider Activity

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $18.32, for a total value of $274,800.00. Following the sale, the insider owned 194,090 shares of the company's stock, valued at $3,555,728.80. This trade represents a 7.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 10.90% of the company's stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in AMLX. BlackRock Inc. purchased a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $158,534,000. Jupiter Topco LLC acquired a new position in Amylyx Pharmaceuticals during the second quarter worth approximately $94,014,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Amylyx Pharmaceuticals by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company's stock valued at $56,408,000 after acquiring an additional 3,102,395 shares during the period. Millennium Management LLC grew its position in shares of Amylyx Pharmaceuticals by 418.6% during the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company's stock worth $10,910,000 after acquiring an additional 2,487,617 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Amylyx Pharmaceuticals by 76.1% in the 4th quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company's stock valued at $53,992,000 after acquiring an additional 1,929,639 shares during the period. Hedge funds and other institutional investors own 95.84% of the company's stock.

Amylyx Pharmaceuticals News Roundup

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

About Amylyx Pharmaceuticals

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

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.

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