Amylyx Pharmaceuticals (NASDAQ:AMLX) Sets New 52-Week High Following Analyst Upgrade

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) shares hit a new 52-week high on Tuesday after Guggenheim raised their price target on the stock from $40.00 to $55.00. Guggenheim currently has a buy rating on the stock. Amylyx Pharmaceuticals traded as high as $28.95 and last traded at $29.8120, with a volume of 3475697 shares traded. The stock had previously closed at $21.43.

Other equities research analysts have also issued research reports about the company. Citigroup lifted 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Mizuho raised their price target on Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday. Wolfe Research raised Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday. Finally, Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $36.25.

Insider Activity

In other news, insider Gina Mazzariello sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total value of $274,800.00. Following the sale, the insider directly owned 194,090 shares of the company’s stock, valued at $3,555,728.80. The trade was a 7.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 10.90% of the company’s stock.

Amylyx Pharmaceuticals News Roundup

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

• Positive Sentiment: Avexitide achieved the primary endpoint in the Phase 3 LUCIDITY trial for post-bariatric hypoglycemia, reducing hypoglycemic events by 55%. The result strengthens the case for an FDA filing by the end of 2026 and improves the drug’s potential commercial value. AMLX Rises as Avexitide Nears 2026-End Filing With Phase III Study Win
• Positive Sentiment: Analysts raised their outlook for Amylyx. HC Wainwright maintained a Buy rating and a $55 price target while increasing its EPS forecasts to $3.22 for 2029 and $6.40 for 2030, reflecting expectations for successful commercialization and substantially higher future revenue. HC Wainwright Raises Amylyx Price Target
• Positive Sentiment: Guggenheim raised its price target to $55 from $40 with a Buy rating, while Robert W. Baird increased its target to $52 from $28 and assigned an Outperform rating. Wolfe Research also upgraded the shares to Strong Buy, adding to the positive analyst momentum.
• Neutral Sentiment: The clinical success has pushed AMLX toward regulatory and commercial execution milestones. Investors will now focus on additional LUCIDITY data, the FDA filing, approval prospects and Amylyx’s ability to establish avexitide commercially.
• Negative Sentiment: Amylyx priced an upsized public offering of 14.09 million shares at $35.50 per share, expected to raise approximately $500 million before expenses. Underwriters may purchase another 2.11 million shares, creating potential dilution and adding supply near the offering price. Amylyx Prices Upsized $500 Million Offering

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Amylyx Pharmaceuticals during the 2nd quarter valued at about $158,534,000. 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. Perceptive Advisors LLC increased its position in shares of Amylyx Pharmaceuticals by 0.4% during the second quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company’s stock valued at $50,654,000 after acquiring an additional 28,017 shares in the last quarter. TCG Crossover Management LLC lifted its position in Amylyx Pharmaceuticals by 5.0% in the 3rd quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company’s stock valued at $84,853,000 after acquiring an additional 300,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Amylyx Pharmaceuticals by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock worth $70,123,000 after purchasing an additional 531,162 shares during the period. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Trading Up 0.8%

The firm has a market cap of $4.33 billion, a PE ratio of -27.20 and a beta of -0.21. The company’s 50 day moving average price is $19.38 and its two-hundred day moving average price is $16.35.

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

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc is a biotechnology company focused on developing treatments for neurodegenerative diseases. The company’s research has centered on therapies intended to protect nerve cells and address the underlying biology of conditions such as amyotrophic lateral sclerosis (ALS) and other serious neurological disorders.

Amylyx’s lead product, AMX0035, was marketed in the United States as Relyvrio and in Canada as Albrioza for the treatment of ALS. Following results from a confirmatory clinical trial that did not meet its objectives, the company announced the voluntary withdrawal of the product from the market in 2024.