Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $40.00 at Guggenheim

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price hoisted by equities researchers at Guggenheim from $30.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 125.52% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Friday, May 8th. Mizuho upped their price objective on shares of Amylyx Pharmaceuticals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Stifel Nicolaus started coverage on shares of Amylyx Pharmaceuticals in a report on Tuesday, March 3rd. They set a “buy” rating and a $21.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $34.00 target price on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. Finally, Wall Street Zen downgraded Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $24.25.

Amylyx Pharmaceuticals Stock Up 4.3%

NASDAQ:AMLX traded up $0.74 during trading hours on Thursday, reaching $17.74. The company had a trading volume of 287,086 shares, compared to its average volume of 1,253,192. The stock has a 50-day moving average of $15.11 and a two-hundred day moving average of $14.34. Amylyx Pharmaceuticals has a one year low of $5.97 and a one year high of $18.60. The firm has a market capitalization of $1.97 billion, a PE ratio of -11.76 and a beta of -0.16.

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

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. raised its stake in shares of Amylyx Pharmaceuticals by 17.5% in the fourth 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 during the last quarter. KBC Group NV acquired a new stake in shares of Amylyx Pharmaceuticals in the first quarter valued at approximately $26,000. Mirae Asset Global Investments Co. Ltd. raised its position in 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 worth $64,000 after purchasing an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Amylyx Pharmaceuticals in the 4th quarter worth approximately $25,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Amylyx Pharmaceuticals by 14.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock worth $216,000 after buying an additional 2,265 shares in the last quarter. Institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile

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.