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

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price upped by Guggenheim from $40.00 to $55.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently issued reports on AMLX. Citigroup lifted their price objective on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Wolfe Research upgraded shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Mizuho raised their target price on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, HC Wainwright lifted their price target on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $36.25.

Amylyx Pharmaceuticals Trading Down 2.5%

NASDAQ:AMLX opened at $38.66 on Wednesday. Amylyx Pharmaceuticals has a 12-month low of $8.46 and a 12-month high of $41.14. The stock has a 50-day moving average price of $20.37 and a 200 day moving average price of $16.69. The stock has a market capitalization of $4.31 billion, a P/E ratio of -27.03 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results 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). On average, research analysts predict that Amylyx Pharmaceuticals will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares in the company, valued at $3,555,728.80. This trade represents a 7.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in Amylyx Pharmaceuticals during the second quarter valued at $705,000. Dimensional Fund Advisors LP lifted its position in Amylyx Pharmaceuticals by 17.1% during the first quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company’s stock valued at $12,544,000 after purchasing an additional 131,944 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Amylyx Pharmaceuticals by 15.5% in the 1st quarter. Bank of New York Mellon Corp now owns 251,104 shares of the company’s stock worth $3,490,000 after buying an additional 33,757 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Amylyx Pharmaceuticals by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock worth $70,123,000 after buying an additional 531,162 shares in the last quarter. Finally, Stempoint Capital LP increased its holdings in shares of Amylyx Pharmaceuticals by 18.5% in the 1st quarter. Stempoint Capital LP now owns 669,685 shares of the company’s stock worth $9,309,000 after buying an additional 104,545 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors.

Amylyx Pharmaceuticals News Summary

Here are the key news stories impacting Amylyx Pharmaceuticals this week:

• Positive Sentiment: Analyst targets point to further upside. Robert W. Baird raised its price target to $52, while Guggenheim forecast strong potential appreciation. HC Wainwright maintained a Buy rating and a $55 target. Robert W. Baird Raises Amylyx Pharmaceuticals Price Target to $52.00 Guggenheim Forecasts Strong Price Appreciation for Amylyx Pharmaceuticals
• Positive Sentiment: Long-term earnings forecasts improved materially. HC Wainwright increased its FY2029 EPS estimate to $3.22 from $1.66 and its FY2030 estimate to $6.40 from $3.74, reflecting greater confidence in Amylyx’s commercial prospects. HC Wainwright Amylyx earnings estimates
• Positive Sentiment: Trading activity accelerated after the analyst upgrade. Amylyx reached a new 52-week high, and trading volume was substantially above its average, indicating heightened institutional and speculative interest. Amylyx Sees Strong Trading Volume on Analyst Upgrade
• Neutral Sentiment: Pivotal LUCIDITY data remains the key upcoming catalyst. Investors are positioning ahead of the data, which could significantly affect the company’s outlook depending on the results. Amylyx Readies for Pivotal LUCIDITY Data
• Negative Sentiment: Amylyx priced an upsized $500 million stock offering at $35.50 per share. The financing strengthens its cash position for development and commercialization but creates dilution, and the discounted offering price can pressure the stock. Underwriters also received an option to buy an additional 2.11 million shares. Amylyx Announces Pricing of Upsized $500 Million Offering

About Amylyx Pharmaceuticals