Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Increased to $4.00 by Analysts at The Goldman Sachs Group

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target increased by equities researchers at The Goldman Sachs Group from $3.00 to $4.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 75.44% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Mizuho lowered their price target on Amylyx Pharmaceuticals from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Wednesday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.60.

Amylyx Pharmaceuticals Stock Performance

AMLX stock opened at $2.28 on Friday. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $25.48. The business has a 50 day moving average price of $1.79 and a 200 day moving average price of $7.37.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.70). Amylyx Pharmaceuticals had a positive return on equity of 4.14% and a negative net margin of 17.86%. The firm had revenue of $88.64 million for the quarter, compared to analysts’ expectations of $113.26 million. During the same quarter in the prior year, the business earned $0.02 EPS. Analysts forecast that Amylyx Pharmaceuticals will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMLX. Allspring Global Investments Holdings LLC increased its holdings in Amylyx Pharmaceuticals by 52,575.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,276 shares of the company’s stock valued at $43,000 after acquiring an additional 15,247 shares in the last quarter. CWM LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 104.2% during the 2nd quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after acquiring an additional 14,613 shares during the period. Quest Partners LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the fourth quarter worth approximately $89,000. China Universal Asset Management Co. Ltd. grew its holdings in Amylyx Pharmaceuticals by 351.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,815 shares of the company’s stock valued at $115,000 after purchasing an additional 6,085 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Amylyx Pharmaceuticals by 69.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,389 shares of the company’s stock worth $153,000 after purchasing an additional 4,255 shares during the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

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.