Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $24.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price increased by Mizuho from $21.00 to $24.00 in a research report released on Monday morning, MarketBeat.com reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on AMLX. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a research report on Monday, June 8th. Guggenheim increased their price objective on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.62.

Amylyx Pharmaceuticals Price Performance

Shares of Amylyx Pharmaceuticals stock opened at $17.70 on Monday. The firm has a market cap of $1.97 billion, a PE ratio of -11.80 and a beta of -0.20. Amylyx Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $19.15. The stock has a fifty day moving average price of $15.71 and a 200-day moving average price of $15.09.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities analysts anticipate that Amylyx Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Transactions at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction 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 owned 194,090 shares in the company, valued at $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 available at this link. 10.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter valued at about $25,000. KBC Group NV purchased a new position in Amylyx Pharmaceuticals during the first quarter valued at approximately $26,000. California State Teachers Retirement System bought a new stake in Amylyx Pharmaceuticals during the 2nd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its holdings in Amylyx Pharmaceuticals by 954.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock worth $47,000 after acquiring an additional 3,493 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Amylyx Pharmaceuticals by 433.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,267 shares of the company’s stock worth $47,000 after purchasing an additional 5,904 shares in the last quarter. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.