Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Free Report) had its price target raised by Guggenheim from $40.00 to $55.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 52.22% from the company’s current price.
A number of other equities analysts also recently commented on AMLX. Citigroup upped their price objective on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Wolfe Research raised shares of Amylyx Pharmaceuticals to a “strong-buy” rating in a report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Robert W. Baird increased their target price on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wall Street Zen cut Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.25.
Get Our Latest Research Report on AMLX
Amylyx Pharmaceuticals Trading Up 2.9%
Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, equities analysts predict that Amylyx Pharmaceuticals will post -1.45 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Amylyx Pharmaceuticals 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 transaction of $274,800.00. Following the completion of the transaction, the insider directly owned 194,090 shares in the company, valued at approximately $3,555,728.80. This trade represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.90% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of AMLX. Dimensional Fund Advisors LP grew its holdings in shares of Amylyx Pharmaceuticals by 17.1% during the first quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company’s stock worth $12,544,000 after buying an additional 131,944 shares in the last quarter. Vanguard Group Inc. grew its stake in Amylyx Pharmaceuticals by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock worth $70,123,000 after acquiring an additional 531,162 shares during the period. Bank of New York Mellon Corp raised its holdings in Amylyx Pharmaceuticals by 15.5% in the 1st quarter. Bank of New York Mellon Corp now owns 251,104 shares of the company’s stock valued at $3,490,000 after acquiring an additional 33,757 shares during the last quarter. Siren L.L.C. purchased a new position in shares of Amylyx Pharmaceuticals during the 1st quarter worth $17,097,000. Finally, Stempoint Capital LP lifted its stake in shares of Amylyx Pharmaceuticals by 18.5% during the 1st quarter. Stempoint Capital LP now owns 669,685 shares of the company’s stock worth $9,309,000 after purchasing an additional 104,545 shares during the period. 95.84% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Amylyx Pharmaceuticals
Here are the key news stories impacting Amylyx Pharmaceuticals this week:
- Positive Sentiment: Avexitide met both the primary and secondary endpoints in the pivotal LUCIDITY study. Reports indicated the treatment reduced hypoglycemia episodes by approximately 55% in patients who developed dangerously low blood sugar after bariatric surgery, strengthening the case for regulatory review and eventual commercialization. Reuters article
- Positive Sentiment: The late-stage clinical success represents a major validation of Amylyx’s lead program and was described as an outcome that Wall Street had not fully priced in. The company is now closer to potential commercialization of avexitide in PBH, an area with significant unmet medical need. Money Morning article
- Positive Sentiment: Analyst sentiment improved following the trial announcement. H.C. Wainwright raised its price target from $34 to $55 and maintained a buy rating, while Robert W. Baird increased its target from $28 to $52 and assigned an outperform rating. Wolfe Research also upgraded AMLX to strong-buy.
- Neutral Sentiment: Investors are now focused on the next steps, including detailed trial data, regulatory filings, approval timing, market size and Amylyx’s ability to manufacture and commercialize avexitide. The company has announced discussions of the LUCIDITY results with investors and analysts. Amylyx announcement
- Negative Sentiment: Some commentary cautions that the stock’s rally may have moved ahead of fundamentals. Approval is not guaranteed, and AMLX remains loss-making, leaving the shares vulnerable to profit-taking, valuation concerns and delays in commercialization. Invezz article
About Amylyx Pharmaceuticals
At Amylyx, our mission is to usher in a new era of treating diseases with high unmet needs.
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