Analyst Rami Katkhuda from LifeSci Capital maintained a Buy rating on Amylyx Pharmaceuticals Inc and keeping the price target at $24.00.
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Rami Katkhuda has given his Buy rating due to a combination of factors related to Amylyx Pharmaceuticals Inc’s financial health and promising pipeline developments. The company reported a strong cash position with $344.0 million in cash, cash equivalents, and marketable securities, which is expected to sustain operations until 2028. This financial stability provides a solid foundation for the company’s ongoing and future projects.
Additionally, the company’s Phase III LUCIDITY trial for avexitide, a GLP-1 antagonist, is progressing with enrollment expected to complete in Q1 2026 and topline data anticipated by Q3 2026. Despite some delays, the trial is considered relatively low-risk due to the mechanistic rationale and supportive data from previous studies. The potential commercial launch of avexitide remains on track for 2027, and the trial is well-powered to detect significant reductions in hypoglycemic events, reinforcing the drug’s clinical potential. These factors collectively underpin the Buy rating, reflecting confidence in Amylyx’s strategic direction and growth prospects.
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.