Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Increased to $54.00 by Analysts at Citigroup

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) had its target price raised by Citigroup from $51.00 to $54.00 in a research note issued to investors on Tuesday morning, The Fly reports.

AMLX has been the topic of a number of other reports. Bank of America initiated coverage on Amylyx Pharmaceuticals in a research note on Thursday, January 5th. They issued a buy rating and a $50.00 price objective on the stock. HC Wainwright reissued a buy rating and issued a $50.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Wednesday, February 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $48.80.

Amylyx Pharmaceuticals Stock Up 9.4 %

Shares of AMLX opened at $34.10 on Tuesday. Amylyx Pharmaceuticals has a 12 month low of $6.51 and a 12 month high of $41.93. The stock’s 50-day moving average price is $36.01 and its two-hundred day moving average price is $34.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) last announced its quarterly earnings data on Monday, March 13th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.12. The business had revenue of $21.89 million during the quarter, compared to analyst estimates of $3.05 million. As a group, research analysts anticipate that Amylyx Pharmaceuticals will post -3.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Morningside Venture Investment sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $33.75, for a total transaction of $1,687,500.00. Following the transaction, the insider now directly owns 7,480,598 shares of the company’s stock, valued at approximately $252,470,182.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Amylyx Pharmaceuticals news, major shareholder Morningside Venture Investment sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $33.75, for a total transaction of $1,687,500.00. Following the completion of the sale, the insider now directly owns 7,480,598 shares of the company’s stock, valued at approximately $252,470,182.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gina Mazzariello sold 3,586 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $34.49, for a total value of $123,681.14. Following the sale, the insider now directly owns 37,414 shares of the company’s stock, valued at $1,290,408.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,586 shares of company stock valued at $3,547,681. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. bought a new position in shares of Amylyx Pharmaceuticals in the fourth quarter valued at approximately $25,000. Royal Bank of Canada grew its holdings in shares of Amylyx Pharmaceuticals by 36.2% in the third quarter. Royal Bank of Canada now owns 1,373 shares of the company’s stock valued at $38,000 after acquiring an additional 365 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Amylyx Pharmaceuticals by 79.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,719 shares of the company’s stock valued at $64,000 after acquiring an additional 762 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Amylyx Pharmaceuticals in the third quarter valued at approximately $51,000. Finally, High Net Worth Advisory Group LLC grew its holdings in shares of Amylyx Pharmaceuticals by 33.3% in the third quarter. High Net Worth Advisory Group LLC now owns 2,000 shares of the company’s stock valued at $56,000 after acquiring an additional 500 shares in the last quarter. 70.55% of the stock is owned by institutional investors.

About Amylyx Pharmaceuticals

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Amylyx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis.