Amylyx price target lowered to $48 from $53 at Citi

Citi analyst Neena Bitritto-Garg lowered the firm’s price target on Amylyx Pharmaceuticals to $48 from $53 and keeps a Buy rating on the shares. As expected, Europe’s Committee for Medicinal Products for Human Use issued a negative opinion on AMX0035, citing outstanding questions regarding the robustness of CENTAUR data and ability to serve as the standalone basis for approval, the analyst tells investors in a research note. The analyst still sees two potential paths to approval and remains a buyer of the stock on weakness. Citi still views Amylyx as a top pick.