Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $26.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective raised by Citigroup from $20.00 to $26.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on AMLX. Mizuho boosted their price target on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 target price on shares of Amylyx Pharmaceuticals in a report on Monday, June 8th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Guggenheim lifted their price target on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

Amylyx Pharmaceuticals Trading Down 0.1%

Shares of NASDAQ:AMLX opened at $21.85 on Monday. The stock’s fifty day simple moving average is $17.00 and its two-hundred day simple moving average is $15.64. Amylyx Pharmaceuticals has a 1-year low of $7.48 and a 1-year high of $22.28. The stock has a market cap of $2.43 billion, a PE ratio of -14.57 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03). On average, sell-side analysts forecast that Amylyx Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of Amylyx Pharmaceuticals stock in a transaction dated 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 owned 194,090 shares of the company’s stock, valued at approximately $3,555,728.80. The trade was a 7.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently modified their holdings of AMLX. Adage Capital Partners GP L.L.C. increased its position in 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 worth $56,408,000 after buying an additional 3,102,395 shares during the last quarter. Millennium Management LLC lifted its position in shares of Amylyx Pharmaceuticals by 418.6% during the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock valued at $10,910,000 after buying an additional 2,487,617 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Amylyx Pharmaceuticals by 76.1% during the 4th quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company’s stock worth $53,992,000 after acquiring an additional 1,929,639 shares during the period. Paradigm Biocapital Advisors LP bought a new position in shares of Amylyx Pharmaceuticals during the 3rd quarter worth $25,821,000. Finally, Commodore Capital LP boosted its position in Amylyx Pharmaceuticals by 38.6% during the fourth quarter. Commodore Capital LP now owns 5,650,000 shares of the company’s stock worth $68,252,000 after purchasing an additional 1,574,522 shares during the period. Institutional investors 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.