The Goldman Sachs Group Increases Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target to $47.00

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) had its price target lifted by investment analysts at The Goldman Sachs Group from $41.00 to $47.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 39.88% from the stock’s previous close.

AMLX has been the subject of a number of other reports. Citigroup boosted their price objective on Amylyx Pharmaceuticals from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Tuesday. Finally, Bank of America began coverage on Amylyx Pharmaceuticals in a research note on Thursday, January 5th. They set a “buy” rating and a $50.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.20.

Amylyx Pharmaceuticals Trading Down 1.5 %

NASDAQ AMLX opened at $33.60 on Tuesday. Amylyx Pharmaceuticals has a 52 week low of $6.51 and a 52 week high of $41.93. The business’s fifty day simple moving average is $35.97 and its 200-day simple moving average is $34.14.

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) last issued its quarterly earnings data on Monday, March 13th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.12. The company had revenue of $21.89 million during the quarter, compared to analysts’ expectations of $3.05 million. As a group, sell-side analysts forecast that Amylyx Pharmaceuticals will post -3.54 EPS for the current fiscal year.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 3,586 shares of Amylyx Pharmaceuticals stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $34.49, for a total value of $123,681.14. Following the completion of the transaction, the insider now owns 37,414 shares in the company, valued at approximately $1,290,408.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Morningside Venture Investment sold 50,000 shares of Amylyx Pharmaceuticals stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $33.75, for a total value of $1,687,500.00. Following the transaction, the insider now directly owns 7,480,598 shares in the company, valued at approximately $252,470,182.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gina Mazzariello sold 3,586 shares of Amylyx Pharmaceuticals stock in a transaction on Friday, February 24th. The shares were sold at an average price of $34.49, for a total value of $123,681.14. Following the transaction, the insider now owns 37,414 shares in the company, valued at approximately $1,290,408.86. The disclosure for this sale can be found here. Insiders sold a total of 103,586 shares of company stock worth $3,547,681 in the last 90 days. 12.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMLX. China Universal Asset Management Co. Ltd. acquired a new position in shares of Amylyx Pharmaceuticals during the 4th quarter worth about $25,000. Royal Bank of Canada grew its stake in shares of Amylyx Pharmaceuticals by 36.2% in the 3rd quarter. Royal Bank of Canada now owns 1,373 shares of the company’s stock valued at $38,000 after purchasing an additional 365 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Amylyx Pharmaceuticals during the 3rd quarter worth approximately $51,000. High Net Worth Advisory Group LLC grew its position in Amylyx Pharmaceuticals by 33.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 2,000 shares of the company’s stock worth $56,000 after acquiring an additional 500 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in Amylyx Pharmaceuticals by 177.6% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 2,207 shares of the company’s stock worth $62,000 after acquiring an additional 1,412 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.

About Amylyx Pharmaceuticals

(Get Rating)

Amylyx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis.