Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price Expected to Rise, Mizuho Analyst Says

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective lifted by investment analysts at Mizuho from $7.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 76.99% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Leerink Partners upgraded shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $4.00 to $10.00 in a research note on Wednesday, May 7th. Leerink Partnrs upgraded shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, HC Wainwright increased their price target on shares of Amylyx Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $9.83.

Amylyx Pharmaceuticals Stock Up 3.9%

Shares of AMLX opened at $4.52 on Wednesday. The company’s fifty day moving average is $4.12 and its 200-day moving average is $4.21. Amylyx Pharmaceuticals has a 12 month low of $1.58 and a 12 month high of $7.27. The firm has a market cap of $402.66 million, a price-to-earnings ratio of -1.18 and a beta of -0.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.03. As a group, research analysts predict that Amylyx Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bernhardt G. Zeiher acquired 10,000 shares of the stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $3.70 per share, for a total transaction of $37,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $37,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joshua B. Cohen sold 21,490 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $3.47, for a total transaction of $74,570.30. Following the completion of the sale, the chief executive officer now owns 3,355,280 shares of the company’s stock, valued at $11,642,821.60. The trade was a 0.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,980 shares of company stock valued at $168,627. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently modified their holdings of AMLX. Boxer Capital Management LLC acquired a new stake in shares of Amylyx Pharmaceuticals during the 4th quarter worth approximately $6,615,000. Bank of America Corp DE grew its position in shares of Amylyx Pharmaceuticals by 165.9% during the 4th quarter. Bank of America Corp DE now owns 2,426,263 shares of the company’s stock worth $9,171,000 after buying an additional 1,513,748 shares during the period. Nantahala Capital Management LLC grew its position in shares of Amylyx Pharmaceuticals by 102.1% during the 1st quarter. Nantahala Capital Management LLC now owns 2,934,405 shares of the company’s stock worth $10,388,000 after buying an additional 1,482,252 shares during the period. Aberdeen Group plc grew its position in shares of Amylyx Pharmaceuticals by 41.1% during the 1st quarter. Aberdeen Group plc now owns 2,430,358 shares of the company’s stock worth $8,603,000 after buying an additional 707,553 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of Amylyx Pharmaceuticals by 862.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 472,397 shares of the company’s stock worth $1,786,000 after buying an additional 423,316 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.