Guggenheim Issues Positive Forecast for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target upped by Guggenheim from $25.00 to $30.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

AMLX has been the topic of several other reports. Stifel Nicolaus assumed coverage on shares of Amylyx Pharmaceuticals in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $21.00 target price on the stock. HC Wainwright increased their price target on shares of Amylyx Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Bank of America raised their price target on shares of Amylyx Pharmaceuticals from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wall Street Zen upgraded shares of Amylyx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $14.05 on Thursday. The stock’s 50 day simple moving average is $14.40 and its 200 day simple moving average is $13.56. Amylyx Pharmaceuticals has a 1 year low of $3.11 and a 1 year high of $17.49. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -9.06 and a beta of -0.31.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. As a group, sell-side analysts anticipate that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insider Buying and Selling

In related news, CEO Justin B. Klee sold 1,995 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $13.89, for a total value of $27,710.55. Following the sale, the chief executive officer owned 3,379,398 shares in the company, valued at $46,939,838.22. This represents a 0.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Karen Firestone bought 8,100 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was bought at an average cost of $12.45 per share, for a total transaction of $100,845.00. Following the completion of the purchase, the director owned 63,100 shares of the company’s stock, valued at approximately $785,595. The trade was a 14.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 151,203 shares of company stock worth $2,028,385. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Landscape Capital Management L.L.C. raised its holdings in 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 buying an additional 1,825 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Amylyx Pharmaceuticals by 54.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,337 shares of the company’s stock valued at $64,000 after buying an additional 1,890 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. increased its position in shares of Amylyx Pharmaceuticals by 14.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,895 shares of the company’s stock valued at $216,000 after acquiring an additional 2,265 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Amylyx Pharmaceuticals by 13.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 26,988 shares of the company’s stock valued at $326,000 after acquiring an additional 3,198 shares in the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

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.