Mizuho Forecasts Strong Price Appreciation for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock

Key Points

• Mizuho raised its price target on Amylyx to $21 (from $19) and maintained an "outperform" rating, implying roughly a 24.41% upside from the current share price.
• Analyst sentiment is broadly positive — the consensus rating is a Moderate Buy with an average price target of $21.56, and several firms have issued buy targets as high as $34 and $30.
• Shares trade around $16.88 (52-week range $4.20–$18.60) with a market cap of $1.87B, projected negative EPS (~-1.36), and very high institutional ownership (~95.8%).

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its price objective raised by stock analysts at Mizuho from $19.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's target price would suggest a potential upside of 24.41% from the stock's current price.

Several other equities research analysts have also recently commented on AMLX. Stifel Nicolaus started coverage on shares of Amylyx Pharmaceuticals in a research report on Tuesday, March 3rd. They issued a "buy" rating and a $21.00 price target on the stock. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. HC Wainwright reiterated a "buy" rating and issued a $34.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 25th. Bank of America boosted their price objective on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Finally, Guggenheim boosted their price target on shares of Amylyx Pharmaceuticals from $25.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $21.56.

Amylyx Pharmaceuticals Trading Down 0.9%

Shares of Amylyx Pharmaceuticals stock opened at $16.88 on Tuesday. The company's 50-day moving average price is $15.14 and its two-hundred day moving average price is $14.21. Amylyx Pharmaceuticals has a 52 week low of $4.20 and a 52 week high of $18.60. The stock has a market cap of $1.87 billion, a PE ratio of -10.89 and a beta of -0.22.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.01. On average, equities analysts predict that Amylyx Pharmaceuticals will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new position in shares of Amylyx Pharmaceuticals in the 4th quarter valued at about $25,000. California State Teachers Retirement System acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Amylyx Pharmaceuticals by 954.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company's stock valued at $47,000 after buying an additional 3,493 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Amylyx Pharmaceuticals by 433.2% in the second quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company's stock worth $47,000 after buying an additional 5,904 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Amylyx Pharmaceuticals in the second quarter worth approximately $47,000. Institutional investors and hedge funds own 95.84% of the company's stock.

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.

The company's lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.

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