Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Stock Has Average Target Price of $40.71

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $40.71.

AMLX has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a report on Wednesday, August 5th. Robert W. Baird increased their target price on shares of Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Guggenheim lifted their target price on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. HC Wainwright boosted their price target on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, Citigroup upped their price target on shares of Amylyx Pharmaceuticals from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, October 15th.

Amylyx Pharmaceuticals Price Performance

AMLX opened at $28.68 on Tuesday. Amylyx Pharmaceuticals has a 52 week low of $10.83 and a 52 week high of $41.14. The business’s fifty day simple moving average is $31.11 and its 200 day simple moving average is $19.97.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, analysts expect that Amylyx Pharmaceuticals will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO James M. Frates sold 10,810 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $32.36, for a total transaction of $349,811.60. Following the completion of the sale, the chief financial officer directly owned 233,625 shares in the company, valued at $7,560,105. This represents a 4.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Camille L. Bedrosian sold 10,028 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $32.40, for a total value of $324,907.20. Following the transaction, the insider owned 278,064 shares in the company, valued at approximately $9,009,273.60. The trade was a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 60,374 shares of company stock worth $1,815,257 in the last ninety days. Corporate insiders own 10.90% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of AMLX. BlackRock Inc. purchased a new position in shares of Amylyx Pharmaceuticals in the second quarter valued at about $158,534,000. Jupiter Topco LLC bought a new position in shares of Amylyx Pharmaceuticals during the second quarter valued at about $94,014,000. Janus Henderson Group PLC raised its stake in shares of Amylyx Pharmaceuticals by 11.6% during the first quarter. Janus Henderson Group PLC now owns 4,986,073 shares of the company’s stock valued at $69,257,000 after acquiring an additional 520,201 shares during the last quarter. Siren L.L.C. bought a new position in shares of Amylyx Pharmaceuticals during the first quarter valued at about $17,097,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Amylyx Pharmaceuticals during the second quarter worth about $18,912,000. Institutional investors own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals