Amylyx Pharmaceuticals (NASDAQ:AMLX) Given New $55.00 Price Target at HC Wainwright

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target boosted by equities researchers at HC Wainwright from $34.00 to $55.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 65.26% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Mizuho lifted their target price on Amylyx Pharmaceuticals from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup boosted their price target on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Guggenheim boosted their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Amylyx Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $28.75.

Amylyx Pharmaceuticals Stock Up 55.3%

NASDAQ:AMLX traded up $11.85 during trading hours on Tuesday, reaching $33.28. 18,348,940 shares of the stock were exchanged, compared to its average volume of 1,513,043. The business has a 50-day moving average of $18.44 and a two-hundred day moving average of $16.04. Amylyx Pharmaceuticals has a twelve month low of $7.63 and a twelve month high of $33.53. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -23.20 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released 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). On average, research analysts forecast that Amylyx Pharmaceuticals will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gina Mazzariello sold 15,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the insider owned 194,090 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 10.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at approximately $25,000. KBC Group NV purchased a new stake in shares of Amylyx Pharmaceuticals during the 1st quarter worth $26,000. California State Teachers Retirement System purchased a new stake in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $28,000. State of Wyoming acquired a new position in shares of Amylyx Pharmaceuticals during the second quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of 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 worth $47,000 after purchasing an additional 3,493 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Key Stories Impacting Amylyx Pharmaceuticals

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

• Positive Sentiment: Avexitide met both the primary and secondary endpoints in the Phase 3 LUCIDITY trial for post-bariatric hypoglycemia, a condition involving dangerously low blood-sugar episodes after weight-loss surgery. Reuters article
• Positive Sentiment: The successful late-stage trial reduces a major development risk and supports the potential for avexitide to become Amylyx’s next important product, particularly if the treatment addresses an unmet need in patients who have undergone bariatric surgery. Barron’s article
• Positive Sentiment: The market reaction was amplified by the trial’s late-stage status and the company’s announcement that detailed topline findings would be discussed with investors. AMLX trading was temporarily halted for news pending before the results were released. Seeking Alpha article
• Neutral Sentiment: Amylyx had previewed the results announcement and scheduled a conference call, creating a near-term catalyst that likely contributed to speculative trading before the data was published. Business Wire article
• Neutral Sentiment: Mizuho raised its price target from $24 to $30 and maintained an “outperform” rating, although the revised target is below the stock’s post-announcement trading level. Benzinga article

Amylyx Pharmaceuticals Company Profile

At Amylyx, our mission is to usher in a new era of treating diseases with high unmet needs.