Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $52.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target upped by Robert W. Baird from $28.00 to $52.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently weighed in on AMLX. Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Citigroup boosted their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Wolfe Research upgraded shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 17th. Finally, HC Wainwright raised their price target on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Two equities research analysts have 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, Amylyx Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $36.25.

Amylyx Pharmaceuticals Trading Down 2.5%

NASDAQ:AMLX opened at $38.66 on Wednesday. The firm’s fifty day simple moving average is $20.37 and its 200 day simple moving average is $16.69. Amylyx Pharmaceuticals has a twelve month low of $8.46 and a twelve month high of $41.14. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -27.03 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). On average, analysts predict that Amylyx Pharmaceuticals will post -1.48 earnings per share for the current year.

Insiders Place Their Bets

In other Amylyx Pharmaceuticals news, insider Gina Mazzariello sold 15,000 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the sale, the insider directly owned 194,090 shares in the company, valued at $3,555,728.80. The trade was a 7.17% decrease in their position. 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 currently owned by company insiders.

Institutional Trading of Amylyx Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. grew its holdings in Amylyx Pharmaceuticals by 17.5% during the 4th quarter. Landscape Capital Management L.L.C. now owns 12,226 shares of the company’s stock worth $148,000 after acquiring an additional 1,825 shares in the last quarter. KBC Group NV acquired a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter valued at about $26,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Amylyx Pharmaceuticals by 54.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock valued at $64,000 after purchasing an additional 1,890 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Amylyx Pharmaceuticals during the fourth quarter worth about $25,000. Finally, State of Wyoming bought a new position in shares of Amylyx Pharmaceuticals during the second quarter worth about $40,000. 95.84% of the stock is owned by institutional investors and hedge funds.

Amylyx Pharmaceuticals News Roundup

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

• Positive Sentiment: Analyst targets point to further upside. Robert W. Baird raised its price target to $52, while Guggenheim forecast strong potential appreciation. HC Wainwright maintained a Buy rating and a $55 target. Robert W. Baird Raises Amylyx Pharmaceuticals Price Target to $52.00 Guggenheim Forecasts Strong Price Appreciation for Amylyx Pharmaceuticals
• Positive Sentiment: Long-term earnings forecasts improved materially. HC Wainwright increased its FY2029 EPS estimate to $3.22 from $1.66 and its FY2030 estimate to $6.40 from $3.74, reflecting greater confidence in Amylyx’s commercial prospects. HC Wainwright Amylyx earnings estimates
• Positive Sentiment: Trading activity accelerated after the analyst upgrade. Amylyx reached a new 52-week high, and trading volume was substantially above its average, indicating heightened institutional and speculative interest. Amylyx Sees Strong Trading Volume on Analyst Upgrade
• Neutral Sentiment: Pivotal LUCIDITY data remains the key upcoming catalyst. Investors are positioning ahead of the data, which could significantly affect the company’s outlook depending on the results. Amylyx Readies for Pivotal LUCIDITY Data
• Negative Sentiment: Amylyx priced an upsized $500 million stock offering at $35.50 per share. The financing strengthens its cash position for development and commercialization but creates dilution, and the discounted offering price can pressure the stock. Underwriters also received an option to buy an additional 2.11 million shares. Amylyx Announces Pricing of Upsized $500 Million Offering

About Amylyx Pharmaceuticals