Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Rating Upgraded by Wolfe Research

Amylyx Pharmaceuticals (NASDAQ:AMLX) was upgraded by equities research analysts at Wolfe Research to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on AMLX. Mizuho set a $42.00 target price on Amylyx Pharmaceuticals in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. HC Wainwright increased their price objective on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Citigroup boosted their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $30.25.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $35.11 on Monday. The firm has a market capitalization of $3.91 billion, a PE ratio of -24.55 and a beta of -0.21. The company’s fifty day moving average price is $18.88 and its two-hundred day moving average price is $16.19. Amylyx Pharmaceuticals has a 52-week low of $7.63 and a 52-week high of $35.39.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Analysts predict that Amylyx Pharmaceuticals will post -1.45 earnings per share for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In related news, insider Gina Mazzariello sold 15,000 shares of the 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 sale, the insider directly owned 194,090 shares in the company, valued at $3,555,728.80. This represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Landscape Capital Management L.L.C. boosted its position in shares of Amylyx Pharmaceuticals by 17.5% during the 4th quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock worth $148,000 after acquiring an additional 1,825 shares in the last quarter. KBC Group NV bought a new stake in Amylyx Pharmaceuticals during the first quarter worth $26,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Amylyx Pharmaceuticals by 54.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock worth $64,000 after purchasing an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Amylyx Pharmaceuticals in the 4th quarter valued at $25,000. Finally, State of Wyoming bought a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $40,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals News Summary

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

• Positive Sentiment: Phase 3 success provides a major catalyst. Avexitide met both the trial’s primary and secondary endpoints, reducing episodes of dangerously low blood sugar in patients who developed PBH following weight-loss surgery. The results strengthen the case for regulatory approval and potential commercialization. Reuters article
• Positive Sentiment: Analyst support increased following the trial announcement. H.C. Wainwright raised its price target from $34 to $55 and maintained a “buy” rating, reflecting greater confidence in avexitide’s commercial opportunity. Street Insider article
• Positive Sentiment: Investor expectations for commercialization have risen. Coverage characterized avexitide as moving closer to the market, helping drive unusually heavy trading activity and the stock’s sharp advance. Yahoo Finance article
• Neutral Sentiment: Trading in AMLX was temporarily halted for pending news before the trial results were released, highlighting the market-moving significance of the announcement. The company is expected to provide additional details through its clinical update and conference call. Business Wire article
• Negative Sentiment: Valuation and execution risks have increased after the sharp rally. Some commentary argued that investors should consider selling because the trial result may already be reflected in the stock. Avexitide still faces regulatory review, launch execution, and commercial-uptake risks; Mizuho’s $30 “outperform” target is below the current trading level. Invezz article

About Amylyx Pharmaceuticals

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