In a report issued on July 11, Marc Goodman from SVB Securities maintained a Buy rating on Amylyx Pharmaceuticals Inc (AMLX – Research Report), with a price target of $31.00. The company’s shares closed last Thursday at $22.45.
According to TipRanks.com, Goodman is a 3-star analyst with an average return of 1.1% and a 47.8% success rate. Goodman covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Opthea Limited Sponsored ADR, and Intra-Cellular Therapies.
Currently, the analyst consensus on Amylyx Pharmaceuticals Inc is a Strong Buy with an average price target of $30.75, representing a 35.8% upside. In a report issued on July 6, H.C. Wainwright also maintained a Buy rating on the stock with a $35.00 price target.
Based on Amylyx Pharmaceuticals Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $47.85 million. In comparison, last year the company had a GAAP net loss of $8.59 million.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMLX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Amylyx Pharmaceuticals Inc is a clinical-stage pharmaceutical company working on developing a novel therapeutic for amyotrophic lateral sclerosis and other neurodegenerative diseases.
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