Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $28.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective raised by HC Wainwright from $20.00 to $28.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Amylyx Pharmaceuticals’ FY2029 earnings at $0.80 EPS and FY2030 earnings at $2.29 EPS.

Other equities analysts have also issued research reports about the company. Robert W. Baird raised their price target on Amylyx Pharmaceuticals from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Monday, December 29th. Citigroup upped their price target on Amylyx Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Lifesci Capital raised Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 27th. Finally, Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.25.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX opened at $14.07 on Tuesday. Amylyx Pharmaceuticals has a 1-year low of $2.60 and a 1-year high of $17.49. The stock has a market cap of $1.55 billion, a P/E ratio of -7.82 and a beta of -0.31. The firm has a fifty day moving average price of $13.39 and a 200 day moving average price of $12.51.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CEO Justin B. Klee sold 1,995 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.89, for a total transaction of $27,710.55. Following the transaction, the chief executive officer directly owned 3,379,398 shares in the company, valued at approximately $46,939,838.22. This represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Camille L. Bedrosian sold 6,580 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.35, for a total transaction of $94,423.00. Following the completion of the transaction, the insider directly owned 175,756 shares of the company’s stock, valued at approximately $2,522,098.60. This trade represents a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 157,783 shares of company stock valued at $2,122,808 in the last quarter. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently bought and sold shares of AMLX. Mirae Asset Global Investments Co. Ltd. grew its holdings in Amylyx Pharmaceuticals by 54.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock valued at $64,000 after purchasing an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth $25,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Amylyx Pharmaceuticals by 14.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock worth $216,000 after buying an additional 2,265 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Amylyx Pharmaceuticals in the 3rd quarter valued at about $48,000. Finally, California State Teachers Retirement System acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at $28,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Company Profile

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.