Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $39.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective raised by Citigroup from $32.00 to $39.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

AMLX has been the topic of several other reports. Wolfe Research raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 17th. HC Wainwright increased their price objective on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Guggenheim raised their target price on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Finally, Robert W. Baird boosted their target price on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $40.71.

Amylyx Pharmaceuticals Stock Down 4.7%

Shares of NASDAQ:AMLX opened at $26.34 on Thursday. Amylyx Pharmaceuticals has a 52-week low of $10.83 and a 52-week high of $41.14. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -18.42 and a beta of -0.10. The business has a 50-day moving average price of $30.91 and a 200-day moving average price of $21.51.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). As a group, equities analysts anticipate that Amylyx Pharmaceuticals will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, Director George M. Milne, Jr. sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $27.70, for a total value of $831,000.00. Following the completion of the transaction, the director directly owned 782,881 shares of the company’s stock, valued at approximately $21,685,803.70. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Camille L. Bedrosian sold 10,028 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $32.40, for a total value of $324,907.20. Following the completion of the sale, the insider owned 278,064 shares in the company, valued at approximately $9,009,273.60. This represents a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 60,374 shares of company stock valued at $1,815,257 in the last three months. 10.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMLX. GAMMA Investing LLC boosted its holdings in Amylyx Pharmaceuticals by 163.0% during the third quarter. GAMMA Investing LLC now owns 1,139 shares of the company’s stock worth $33,000 after buying an additional 706 shares in the last quarter. Arizona State Retirement System raised its position in shares of Amylyx Pharmaceuticals by 9.5% in the second quarter. Arizona State Retirement System now owns 19,825 shares of the company’s stock worth $356,000 after acquiring an additional 1,726 shares during the period. KBC Group NV acquired a new position in shares of Amylyx Pharmaceuticals in the first quarter worth about $26,000. State of Wyoming acquired a new position in shares of Amylyx Pharmaceuticals in the second quarter worth about $40,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Amylyx Pharmaceuticals by 27.5% during the 2nd quarter. Hsbc Holdings PLC now owns 14,554 shares of the company’s stock worth $269,000 after acquiring an additional 3,140 shares in the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

About Amylyx Pharmaceuticals