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

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price boosted by equities research analysts at Mizuho from $24.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 38.70% from the stock’s current price.

Several other brokerages have also issued reports on AMLX. Guggenheim boosted their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Citigroup boosted their price target on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $34.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.12.

Amylyx Pharmaceuticals Price Performance

AMLX stock opened at $21.63 on Monday. Amylyx Pharmaceuticals has a 52-week low of $7.63 and a 52-week high of $24.60. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -15.13 and a beta of -0.21. The business has a fifty day moving average of $18.28 and a two-hundred day moving average of $16.00.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -1.45 EPS for the current year.

Insider Transactions at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owned 194,090 shares in the company, valued at $3,555,728.80. This trade represents a 7.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.90% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE acquired a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth about $14,760,000. Jupiter Topco LLC acquired a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $94,014,000. Elmind Capital LP purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $2,011,520,000. Hsbc Holdings PLC purchased a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $269,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $496,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

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.