Analysts Set Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Price Target at $36.50

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $36.50.

Several analysts recently commented on AMLX shares. Robert W. Baird lifted their target price on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Citigroup boosted their price objective on Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Guggenheim upped their target price on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Wolfe Research upgraded Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 17th. Finally, HC Wainwright boosted their price target on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th.

Insider Activity

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

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of AMLX. BlackRock Inc. acquired a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth approximately $158,534,000. Jupiter Topco LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the second quarter valued at approximately $94,014,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of 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 valued at $56,408,000 after buying an additional 3,102,395 shares during the period. Millennium Management LLC grew its position in Amylyx Pharmaceuticals by 418.6% during the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after buying an additional 2,487,617 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Amylyx Pharmaceuticals by 76.1% during the fourth quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company’s stock worth $53,992,000 after buying an additional 1,929,639 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Trading Down 4.4%

AMLX stock opened at $32.40 on Monday. Amylyx Pharmaceuticals has a 1-year low of $10.83 and a 1-year high of $41.14. The business’s 50 day simple moving average is $25.15 and its 200 day simple moving average is $18.62. The firm has a market capitalization of $3.61 billion, a PE ratio of -22.66 and a beta of -0.13.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, sell-side analysts predict that Amylyx Pharmaceuticals will post -1.48 EPS for the current fiscal year.

Amylyx Pharmaceuticals Company Profile