Amylyx price target lowered to $8 from $42 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Amylyx to $8 from $42 and keeps a Buy rating on the shares after the Phoenix Phase 3 trial did not meet the prespecified primary or secondary endpoint. Amylyx’s “pipeline rebirth still may hold underappreciated segments of value,” the analyst tells investors in a research note.