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

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target increased by Mizuho from $38.00 to $39.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. Guggenheim upped their price objective on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. HC Wainwright initiated coverage on shares of Amylyx Pharmaceuticals in a research note on Thursday, November 5th. They issued a “strong-buy” rating for the company. Wolfe Research raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Tuesday, November 3rd. Finally, Stifel Nicolaus set a $45.00 price target on shares of Amylyx Pharmaceuticals in a report on Thursday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Amylyx Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $43.71.

Amylyx Pharmaceuticals Price Performance

NASDAQ:AMLX opened at $29.86 on Tuesday. Amylyx Pharmaceuticals has a 12-month low of $10.83 and a 12-month high of $41.14. The stock’s 50 day simple moving average is $29.72 and its 200-day simple moving average is $20.71.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.38) earnings per share for the quarter, hitting the consensus estimate of ($0.38). On average, analysts forecast that Amylyx Pharmaceuticals will post -1.50 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO James M. Frates sold 10,810 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $32.36, for a total transaction of $349,811.60. Following the transaction, the chief financial officer owned 233,625 shares of the company’s stock, valued at $7,560,105. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gina Mazzariello sold 9,536 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $32.46, for a total value of $309,538.56. Following the completion of the transaction, the insider owned 190,838 shares of the company’s stock, valued at $6,194,601.48. The trade was a 4.76% decrease in their position. The SEC filing for this sale provides additional information. 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 over the last 90 days. 10.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of AMLX. First Trust Advisors LP increased its holdings in Amylyx Pharmaceuticals by 34.3% in the third quarter. First Trust Advisors LP now owns 342,028 shares of the company’s stock valued at $9,953,000 after buying an additional 87,441 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Amylyx Pharmaceuticals by 488.2% during the 3rd quarter. Voya Investment Management LLC now owns 104,971 shares of the company’s stock valued at $3,055,000 after acquiring an additional 87,124 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Amylyx Pharmaceuticals during the 3rd quarter valued at approximately $130,000. Three Bridge Wealth Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 3rd quarter valued at approximately $194,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Amylyx Pharmaceuticals by 1,469.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 168,985 shares of the company’s stock worth $4,946,000 after acquiring an additional 158,217 shares in the last quarter. Institutional investors and hedge funds 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.