Guggenheim Forecasts Strong Price Appreciation for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target boosted by stock analysts at Guggenheim from $25.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 117.31% from the company’s previous close.

AMLX has been the subject of several other reports. Stifel Nicolaus began coverage on Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price objective for the company. HC Wainwright lifted their target price on Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Bank of America boosted their target price on Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.11.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock opened at $13.81 on Thursday. The company has a market capitalization of $1.53 billion, a P/E ratio of -8.91 and a beta of -0.31. Amylyx Pharmaceuticals has a 1 year low of $3.11 and a 1 year high of $17.49. The company’s fifty day moving average is $14.43 and its two-hundred day moving average is $13.59.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. As a group, equities analysts expect that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current year.

Insider Activity at Amylyx Pharmaceuticals

In other news, CEO Justin B. Klee sold 1,995 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $13.89, for a total value of $27,710.55. Following the completion of the transaction, the chief executive officer owned 3,379,398 shares in the company, valued at $46,939,838.22. This trade represents a 0.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen Firestone acquired 8,100 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Tuesday, December 23rd. The stock was bought at an average price of $12.45 per share, with a total value of $100,845.00. Following the purchase, the director directly owned 63,100 shares of the company’s stock, valued at approximately $785,595. This trade represents a 14.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 151,203 shares of company stock valued at $2,028,385. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Landscape Capital Management L.L.C. increased 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 valued at $148,000 after acquiring an additional 1,825 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Amylyx Pharmaceuticals by 54.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock worth $64,000 after acquiring an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter valued at about $25,000. China Universal Asset Management Co. Ltd. grew its position in shares of Amylyx Pharmaceuticals by 14.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock valued at $216,000 after purchasing an additional 2,265 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Amylyx Pharmaceuticals by 13.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 26,988 shares of the company’s stock valued at $326,000 after purchasing an additional 3,198 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

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.