HC Wainwright Raises Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target to $55.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target lifted by equities research analysts at HC Wainwright from $34.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 65.26% from the stock’s current price.

AMLX has been the topic of several other research reports. Mizuho lifted their price target on Amylyx Pharmaceuticals from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Wall Street Zen cut shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Guggenheim lifted their target price 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. Finally, Citigroup boosted their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.75.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX stock traded up $11.85 during trading hours on Tuesday, reaching $33.28. The company had a trading volume of 18,348,940 shares, compared to its average volume of 1,513,043. Amylyx Pharmaceuticals has a 12-month low of $7.63 and a 12-month high of $33.53. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -23.20 and a beta of -0.21. The stock has a fifty day moving average of $18.44 and a 200-day moving average of $16.04.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). On average, analysts forecast that Amylyx Pharmaceuticals will post -1.45 EPS for the current year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of Amylyx Pharmaceuticals stock in a transaction 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 owned 194,090 shares in the company, valued at $3,555,728.80. The trade was a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in Amylyx Pharmaceuticals in the 4th quarter valued at about $25,000. KBC Group NV acquired a new position in Amylyx Pharmaceuticals in the first quarter valued at about $26,000. California State Teachers Retirement System purchased a new position in Amylyx Pharmaceuticals during the second quarter worth about $28,000. State of Wyoming purchased a new position in Amylyx Pharmaceuticals during the second quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Amylyx Pharmaceuticals by 954.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock valued at $47,000 after acquiring an additional 3,493 shares during the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Amylyx Pharmaceuticals

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

• Positive Sentiment: Avexitide met both the primary and secondary endpoints in the Phase 3 LUCIDITY trial for post-bariatric hypoglycemia, a condition involving dangerously low blood-sugar episodes after weight-loss surgery. Reuters article
• Positive Sentiment: The successful late-stage trial reduces a major development risk and supports the potential for avexitide to become Amylyx’s next important product, particularly if the treatment addresses an unmet need in patients who have undergone bariatric surgery. Barron’s article
• Positive Sentiment: The market reaction was amplified by the trial’s late-stage status and the company’s announcement that detailed topline findings would be discussed with investors. AMLX trading was temporarily halted for news pending before the results were released. Seeking Alpha article
• Neutral Sentiment: Amylyx had previewed the results announcement and scheduled a conference call, creating a near-term catalyst that likely contributed to speculative trading before the data was published. Business Wire article
• Neutral Sentiment: Mizuho raised its price target from $24 to $30 and maintained an “outperform” rating, although the revised target is below the stock’s post-announcement trading level. Benzinga article

Amylyx Pharmaceuticals Company Profile

At Amylyx, our mission is to usher in a new era of treating diseases with high unmet needs.