BofA starts Amylyx with a Buy given ‘huge unmet need’ in ALS

As previously reported, BofA analyst Geoff Meacham initiated coverage of Amylyx with a Buy rating and $50 price target. The company’s AMX0035, or Relyvrio, is the first drug approved for ALS to show a functional and survival benefit on top of standard of care and he sees it being used despite its approval and pricing controversy, Meacham tells investors. Amylyx could withdraw Relyvrio from the market if the confirmatory trial in 2024 fails to show benefit, but he thinks that is less likely and he anticipates "strong uptake" in the U.S., Meacham added.