Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $26.00 at Citigroup

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price boosted by research analysts at Citigroup from $20.00 to $26.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 28.48% from the company’s current price.

Several other research firms have also recently weighed in on AMLX. Guggenheim increased their price objective on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. HC Wainwright restated a “buy” rating and issued a $34.00 price target on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research report on Friday, May 8th. Mizuho lifted their price objective on shares of Amylyx Pharmaceuticals from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Finally, Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.38.

Amylyx Pharmaceuticals Stock Down 0.4%

Shares of Amylyx Pharmaceuticals stock traded down $0.07 on Monday, hitting $20.24. The stock had a trading volume of 1,047,015 shares, compared to its average volume of 1,375,796. Amylyx Pharmaceuticals has a twelve month low of $7.48 and a twelve month high of $20.94. The business’s 50 day moving average is $16.55 and its two-hundred day moving average is $15.47. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -13.39 and a beta of -0.21.

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

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $274,800.00. Following the completion of the sale, the insider directly owned 194,090 shares in the company, valued at approximately $3,555,728.80. This 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 hyperlink. Insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its stake in Amylyx Pharmaceuticals by 418.6% during the first quarter. Millennium Management LLC now owns 3,081,853 shares of the company’s stock worth $10,910,000 after buying an additional 2,487,617 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Amylyx Pharmaceuticals by 7.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,002,961 shares of the company’s stock valued at $7,090,000 after purchasing an additional 143,065 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Amylyx Pharmaceuticals by 62.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 87,989 shares of the company’s stock valued at $564,000 after purchasing an additional 33,920 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $47,000. Finally, Rhumbline Advisers acquired a new position in shares of Amylyx Pharmaceuticals during the 2nd quarter worth $645,000. 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.