Amylyx Pharmaceuticals (NASDAQ:AMLX) Sets New 12-Month High on Analyst Upgrade

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) shares reached a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $20.00 to $26.00. Citigroup currently has a buy rating on the stock. Amylyx Pharmaceuticals traded as high as $21.00 and last traded at $20.95, with a volume of 135229 shares trading hands. The stock had previously closed at $20.17.

Other analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Guggenheim boosted their price objective 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. Mizuho increased their target price on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of Amylyx Pharmaceuticals in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other 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 transaction of $274,800.00. Following the transaction, 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 through this hyperlink. Insiders own 10.90% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Several large investors have recently bought and sold shares of AMLX. Adage Capital Partners GP L.L.C. grew its holdings in shares of Amylyx Pharmaceuticals by 54.5% during 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 last quarter. Millennium Management LLC raised its stake in Amylyx Pharmaceuticals by 418.6% in the 1st quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after acquiring an additional 2,487,617 shares during the last quarter. Janus Henderson Group PLC lifted its position in Amylyx Pharmaceuticals by 76.1% during the 4th quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company’s stock worth $53,992,000 after acquiring an additional 1,929,639 shares during the period. Paradigm Biocapital Advisors LP acquired a new stake in Amylyx Pharmaceuticals during the 3rd quarter worth about $25,821,000. Finally, Commodore Capital LP grew its stake in Amylyx Pharmaceuticals by 38.6% during the 4th quarter. Commodore Capital LP now owns 5,650,000 shares of the company’s stock valued at $68,252,000 after purchasing an additional 1,574,522 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Price Performance

The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -13.95 and a beta of -0.21. The business has a fifty day moving average price of $16.68 and a two-hundred day moving average price of $15.52.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its earnings results on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). On average, research analysts predict that Amylyx Pharmaceuticals, Inc. will post -1.4 earnings per share for the current year.

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.