Analysts Boost Amylyx Pharmaceuticals Price Target to $17.25

Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX) have attracted an average recommendation of “Moderate Buy” from analysts covering the company. According to MarketBeat Ratings, fifteen ratings firms assessed the stock, resulting in one sell recommendation, two hold ratings, nine buy ratings, and three strong buy ratings. The average price target set by brokers for the next year is $17.25.

Analysts have recently issued several reports on Amylyx. Notably, on October 16, Robert W. Baird raised its price target from $10.00 to $19.00 and assigned an “outperform” rating. Following suit, HC Wainwright increased its price objective from $16.00 to $20.00 on November 7, while Citigroup also elevated its target from $12.00 to $20.00 on October 17.

In its latest quarterly earnings report on November 6, Amylyx Pharmaceuticals reported earnings per share (EPS) of -$0.37, outperforming analysts’ expectations of -$0.43 by $0.06. Analysts predict that the company will achieve an EPS of -2.2 for the current fiscal year.

Insider Trading Activity

Recent insider trading at Amylyx has drawn attention. On September 30, insider Gina Mazzariello sold 8,828 shares at an average price of $14.58, totaling $128,712.24. Following this sale, Mazzariello holds 148,141 shares, valued at approximately $2,159,895.78. This transaction represents a 5.62% decrease in her holdings.

Additionally, James M. Frates, the Chief Financial Officer, sold 10,558 shares on the same day for an average price of $14.65, amounting to $154,674.70. Post-sale, Frates owns 280,430 shares, valued at around $4,108,299.50, reflecting a 3.63% decrease in his position. In total, insiders sold 91,333 shares over the last three months, amounting to approximately $1,319,495.

Institutional Investment Trends

Changes in institutional holdings indicate growing interest in Amylyx Pharmaceuticals. In the second quarter, California State Teachers Retirement System acquired a new stake valued at approximately $28,000. Meanwhile, R Squared Ltd increased its stake by 99.9%, now owning 12,736 shares worth $45,000 after purchasing an additional 6,366 shares.

Other notable investments include BNP Paribas Financial Markets, which boosted its stake by 433.2%, now holding 7,267 shares valued at $47,000. Overall, approximately 95.84% of Amylyx’s shares are owned by institutional investors and hedge funds.

About Amylyx Pharmaceuticals: The company specializes in developing treatments for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. Its flagship product, RELYVRIO, is a dual UPR-Bax apoptosis inhibitor designed for ALS treatment in adults across the United States. In Canada, it is marketed as ALBRIOZA.

As interest in Amylyx Pharmaceuticals continues to grow, analysts and investors alike will be keen to monitor its performance in the coming months.