Mizuho Raises Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target to $24.00

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target hoisted by analysts at Mizuho from $21.00 to $24.00 in a research note issued to investors on Monday, Marketbeat reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 29.73% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Guggenheim lifted their target price on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Friday, May 8th. Finally, HC Wainwright restated a “buy” rating and set a $34.00 price target on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.62.

Amylyx Pharmaceuticals Stock Performance

Shares of Amylyx Pharmaceuticals stock opened at $18.50 on Monday. Amylyx Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $19.15. The company has a market capitalization of $2.06 billion, a P/E ratio of -12.33 and a beta of -0.20. The company’s fifty day moving average is $15.64 and its two-hundred day moving average is $15.06.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities analysts expect that Amylyx Pharmaceuticals will post -1.4 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gina Mazzariello sold 15,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,555,728.80. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.90% of the stock is currently owned by insiders.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds have recently modified their holdings of the business. KBC Group NV acquired a new position in Amylyx Pharmaceuticals during the first quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in Amylyx Pharmaceuticals in the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in Amylyx Pharmaceuticals by 954.4% in 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 period. California State Teachers Retirement System acquired a new stake in Amylyx Pharmaceuticals in the second quarter valued at $28,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Amylyx Pharmaceuticals by 54.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock worth $64,000 after purchasing an additional 1,890 shares in the last quarter. 95.84% of the stock is 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.