Amylyx Pharmaceuticals (NASDAQ:AMLX) Given New $24.00 Price Target at Mizuho

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its target price raised by Mizuho from $21.00 to $24.00 in a report published on Monday morning, MarketBeat reports. Mizuho currently has an outperform rating on the stock.

A number of other brokerages also recently commented on AMLX. Wall Street Zen downgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Guggenheim boosted their target price on Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Friday, May 8th. Finally, HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Amylyx Pharmaceuticals in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.62.

Amylyx Pharmaceuticals Stock Performance

Shares of AMLX opened at $17.45 on Monday. The stock has a market capitalization of $1.94 billion, a P/E ratio of -11.63 and a beta of -0.20. The company’s fifty day moving average is $15.56 and its two-hundred day moving average is $15.01. Amylyx Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $19.15.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced 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). Sell-side analysts predict that Amylyx Pharmaceuticals will post -1.4 EPS for the current year.

Insiders Place Their Bets

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. Company insiders own 10.90% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Large investors have recently modified their holdings of the business. Seven Fleet Capital Management LP raised its position in shares of Amylyx Pharmaceuticals by 44.1% during the 1st quarter. Seven Fleet Capital Management LP now owns 16,671 shares of the company’s stock worth $232,000 after purchasing an additional 5,100 shares during the last quarter. Stempoint Capital LP grew its holdings in Amylyx Pharmaceuticals by 18.5% during the 1st quarter. Stempoint Capital LP now owns 669,685 shares of the company’s stock valued at $9,309,000 after buying an additional 104,545 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Amylyx Pharmaceuticals by 11.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,986,073 shares of the company’s stock valued at $69,257,000 after buying an additional 520,201 shares during the last quarter. ADAR1 Capital Management LLC increased its position in Amylyx Pharmaceuticals by 12.4% during the first quarter. ADAR1 Capital Management LLC now owns 1,000,604 shares of the company’s stock worth $13,908,000 after buying an additional 110,248 shares in the last quarter. Finally, Amundi purchased a new position in Amylyx Pharmaceuticals during the first quarter worth $179,000. 95.84% of the stock is currently 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.