Amylyx price target raised to $54 from $51 at Citi

Citi raised the firm’s price target on Amylyx to $54 from $51 and keeps a Buy rating on the shares. Based on Q4 sales/demand metrics, Relyvrio is on track to post a $400M year in fiscal 2023, the analyst tells investors in a research note. The firm continues to see the PHOENIX topline readout as more of a headline versus existential risk, and sees an opportunity for incremental buying from existing and new investors on the sidelines awaiting clarity on launch trajectory/PHOENIX risk to drive upside into the mid-$40s per share near-term.