Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Gets Price Target Boost from Citigroup

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target hoisted by research analysts at Citigroup from $32.00 to $39.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 40.18% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Wolfe Research upgraded Amylyx Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Guggenheim boosted their target price on Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Robert W. Baird upped their price target on Amylyx Pharmaceuticals from $28.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Finally, HC Wainwright increased their price target on Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $40.71.

Amylyx Pharmaceuticals Trading Up 2.9%

AMLX traded up $0.79 during trading hours on Thursday, hitting $27.82. 350,392 shares of the company’s stock were exchanged, compared to its average volume of 1,646,962. Amylyx Pharmaceuticals has a 12-month low of $10.83 and a 12-month high of $41.14. The firm has a 50 day moving average of $30.77 and a 200 day moving average of $21.38. The firm has a market cap of $3.10 billion, a P/E ratio of -19.45 and a beta of -0.10.

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

Insiders Place Their Bets

In other news, insider Gina Mazzariello sold 9,536 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $32.46, for a total transaction of $309,538.56. Following the completion of the transaction, the insider directly owned 190,838 shares of the company’s stock, valued at approximately $6,194,601.48. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Frates sold 10,810 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $32.36, for a total value of $349,811.60. Following the completion of the transaction, the chief financial officer directly owned 233,625 shares of the company’s stock, valued at $7,560,105. This trade represents a 4.42% 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 sold 60,374 shares of company stock valued at $1,815,257 over the last quarter. Corporate insiders own 10.90% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Amylyx Pharmaceuticals by 163.0% during the third quarter. GAMMA Investing LLC now owns 1,139 shares of the company’s stock worth $33,000 after purchasing an additional 706 shares in the last quarter. KBC Group NV purchased a new stake in shares of Amylyx Pharmaceuticals in the 1st quarter valued at about $26,000. State of Wyoming acquired a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $40,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Amylyx Pharmaceuticals by 954.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,859 shares of the company’s stock valued at $47,000 after purchasing an additional 3,493 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at about $157,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Amylyx Pharmaceuticals Company Profile