Guggenheim Issues Positive Forecast for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective raised by equities research analysts at Guggenheim from $55.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 54.77% from the stock’s current price.

Several other brokerages have also recently issued reports on AMLX. Mizuho upped their price objective on shares of Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. HC Wainwright boosted their target price on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Wall Street Zen lowered Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Robert W. Baird increased their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Amylyx Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $36.50.

Amylyx Pharmaceuticals Stock Down 0.7%

Amylyx Pharmaceuticals stock opened at $36.83 on Thursday. Amylyx Pharmaceuticals has a 52-week low of $9.15 and a 52-week high of $41.14. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -26.02 and a beta of -0.21. The company has a fifty day simple moving average of $21.72 and a 200-day simple moving average of $17.20.

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). On average, research analysts anticipate that Amylyx Pharmaceuticals will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the sale, the insider owned 194,090 shares of the company’s stock, valued at $3,555,728.80. This represents a 7.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 10.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter worth approximately $158,534,000. Jupiter Topco LLC purchased a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth approximately $94,014,000. Adage Capital Partners GP L.L.C. grew its holdings in Amylyx Pharmaceuticals by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,800,000 shares of the company’s stock worth $56,408,000 after acquiring an additional 3,102,395 shares in the last quarter. Millennium Management LLC grew its stake in shares of Amylyx Pharmaceuticals by 418.6% during the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after purchasing an additional 2,487,617 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Amylyx Pharmaceuticals by 76.1% during the 4th quarter. Janus Henderson Group PLC now owns 4,465,872 shares of the company’s stock worth $53,992,000 after acquiring an additional 1,929,639 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile