TD Cowen analyst Joseph Thome has maintained their bullish stance on AMLX stock, giving a Buy rating on October 29.
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Joseph Thome has given his Buy rating due to a combination of factors surrounding Amylyx Pharmaceuticals Inc. The company is progressing with its Phase III LUCIDITY study for avexitide, which is expected to complete enrollment in the first quarter of 2026 and provide topline data by the third quarter of the same year. Despite a slight delay, the high interest in trial participation and the focus on enrolling high-quality patients are positive indicators for the study’s success.
Thome also highlights the promising mechanistic rationale for GLP-1 antagonism in treating PBH, supported by previous Phase II results showing a significant reduction in hypoglycemic events. The potential for avexitide to become the first FDA-approved treatment for PBH presents a substantial market opportunity, with conservative estimates suggesting a market size that could reach several billion dollars. These factors contribute to the view that AMLX shares are undervalued, justifying the Buy rating.
In another report released on October 29, Mizuho Securities also maintained a Buy rating on the stock with a $16.00 price target.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMLX in relation to earlier this year.