Why Shares in Amylyx Pharmaceuticals Soared This Week

Shares in Amylyx Pharmaceuticals (NASDAQ: AMLX) were up almost 28% in the week to Friday morning. The move comes after an analyst at Guggenheim initiated coverage of the small-cap stock and issued a buy recommendation, accompanied by a price target of $17. For reference, the stock price at the time of writing is $6.50.The main excitement surrounds avexitide, a GLP-1 receptor antagonist, which Amylyx is currently testing in a phase 3 trial for post-bariatric hypoglycemia (PBH). According to Amylyx, about 8% of patients who have undergone bariatric (weight loss) surgery end up with PBH; this translates to 160,000 people living with PBH now. The Guggenheim analyst believes avexitide has blockbuster potential (usually implying sales of over $1 billion), and investors are hoping Amylyx can replicate the results of its phase 2 trial.Management anticipates that the phase 3 Lucidity trial will be completed in 2025, with headline results expected to be available in the first half of 2026. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool