Guggenheim Issues Positive Forecast for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price
by Michael Walen · The Markets DailyAmylyx Pharmaceuticals (NASDAQ:AMLX – Get Free Report) had its price target lifted by equities research analysts at Guggenheim from $25.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 117.09% from the company’s current price.
Several other research firms have also issued reports on AMLX. Wall Street Zen raised shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Bank of America upped their price target on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. HC Wainwright raised their price objective on shares of Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Stifel Nicolaus assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They set a “buy” rating and a $21.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.11.
Get Our Latest Analysis on Amylyx Pharmaceuticals
Amylyx Pharmaceuticals Trading Up 0.2%
NASDAQ AMLX traded up $0.03 on Thursday, hitting $13.82. 118,692 shares of the company traded hands, compared to its average volume of 1,278,954. The business’s 50 day moving average price is $14.35 and its 200-day moving average price is $13.56. Amylyx Pharmaceuticals has a 52-week low of $3.11 and a 52-week high of $17.49. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -8.90 and a beta of -0.31.
Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. As a group, sell-side analysts predict that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.
Insider Activity at Amylyx Pharmaceuticals
In related news, CEO Joshua B. Cohen sold 1,974 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $13.83, for a total transaction of $27,300.42. Following the completion of the transaction, the chief executive officer owned 3,379,465 shares in the company, valued at approximately $46,738,000.95. This represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Justin B. Klee sold 1,995 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $13.89, for a total transaction of $27,710.55. Following the transaction, the chief executive officer directly owned 3,379,398 shares of the company’s stock, valued at $46,939,838.22. The trade was a 0.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 151,203 shares of company stock valued at $2,028,385. Corporate insiders own 12.30% of the company’s stock.
Institutional Trading of Amylyx Pharmaceuticals
Hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. boosted its holdings in shares of 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 valued at $56,408,000 after purchasing an additional 3,102,395 shares during the last quarter. Perceptive Advisors LLC increased its holdings in shares of Amylyx Pharmaceuticals by 0.4% in the second quarter. Perceptive Advisors LLC now owns 7,902,365 shares of the company’s stock worth $50,654,000 after purchasing an additional 28,017 shares during the last quarter. TCG Crossover Management LLC lifted its position in shares of Amylyx Pharmaceuticals by 5.0% in the third quarter. TCG Crossover Management LLC now owns 6,243,812 shares of the company’s stock worth $84,853,000 after buying an additional 300,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Amylyx Pharmaceuticals by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock valued at $70,123,000 after buying an additional 531,162 shares during the last quarter. Finally, Commodore Capital LP grew its holdings in Amylyx Pharmaceuticals by 38.6% during the 4th quarter. Commodore Capital LP now owns 5,650,000 shares of the company’s stock valued at $68,252,000 after buying an additional 1,574,522 shares in the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.
About Amylyx Pharmaceuticals
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.
The company’s lead product, AMX0035, is marketed under the trade name Relyvrio following U.S.