Robert W. Baird Forecasts Strong Price Appreciation for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock

Key Points

• Robert W. Baird raised its Amylyx Pharmaceuticals price target from $28 to $52 and maintained an “outperform” rating, implying 48.11% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and average price target of $34.38; HC Wainwright also raised its target to $55, while Wolfe Research upgraded the stock to “strong buy.”
• Amylyx shares have surged 63.8% amid positive avexitide trial results, though valuation and execution risks remain, and the company recently reported an adjusted quarterly loss of $0.39 per share, missing estimates.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) had its price target raised by investment analysts at Robert W. Baird from $28.00 to $52.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 48.11% from the stock's previous close.

AMLX has been the subject of several other research reports. Wall Street Zen downgraded Amylyx Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. HC Wainwright raised their target price on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday. Mizuho set a $42.00 price target on Amylyx Pharmaceuticals in a research report on Tuesday. Wolfe Research upgraded Amylyx Pharmaceuticals to a "strong-buy" rating in a report on Monday. Finally, Guggenheim increased their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Two research 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 company. According to MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $34.38.

Amylyx Pharmaceuticals Stock Up 63.8%

Amylyx Pharmaceuticals stock opened at $35.11 on Wednesday. The firm has a fifty day moving average of $18.88 and a 200-day moving average of $16.19. Amylyx Pharmaceuticals has a 52-week low of $7.63 and a 52-week high of $35.39. The firm has a market capitalization of $3.91 billion, a P/E ratio of -24.55 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). On average, research analysts expect that Amylyx Pharmaceuticals will post -1.45 EPS for the current fiscal year.

Insider Transactions at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 15,000 shares of the company's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the sale, the insider directly owned 194,090 shares of the company's stock, valued at $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV bought a new position in shares of Amylyx Pharmaceuticals during the first quarter worth about $26,000. Meeder Asset Management Inc. bought a new stake in Amylyx Pharmaceuticals in the fourth quarter valued at about $25,000. State of Wyoming bought a new stake in Amylyx Pharmaceuticals in the second quarter valued at about $40,000. Caitong International Asset Management Co. Ltd raised its stake in Amylyx Pharmaceuticals by 954.4% during the fourth 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. Finally, California State Teachers Retirement System acquired a new stake in Amylyx Pharmaceuticals during the second quarter valued at approximately $28,000. 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 trial, reducing episodes of dangerously low blood sugar in patients who had undergone bariatric surgery. The result moves Amylyx closer to potential regulatory filing and commercialization. Reuters article
• Positive Sentiment: The late-stage trial success led to substantial investor interest, with coverage describing AMLX as reaching a fresh high and attracting expectations for significant additional upside. Yahoo Finance article
• Positive Sentiment: HC Wainwright raised its AMLX price target from $34 to $55 and maintained a “buy” rating, implying considerable upside based on avexitide’s improved commercial potential. Wolfe Research also upgraded the stock to “strong-buy.” StreetInsider article
• Neutral Sentiment: Trading in AMLX was temporarily halted for pending news before the LUCIDITY results were released, underscoring the material significance of the announcement but not changing the company’s fundamentals by itself.
• Negative Sentiment: Valuation and execution risks remain after the rapid rally. Mizuho raised its target to $30 and rated the stock “outperform,” a target below the referenced $35.11 price, while some commentary urged investors to sell following the surge. American Banking News article

Amylyx Pharmaceuticals Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source