Analyst Andrew Fein of H.C. Wainwright maintained a Buy rating on Amylyx Pharmaceuticals Inc (AMLX – Research Report), with a price target of $12.00.
Andrew Fein’s rating is based on the potential of Amylyx Pharmaceuticals Inc’s avexitide in addressing the unmet needs in the post-bariatric surgery market. Despite the increasing use of GLP-1 receptor agonists, bariatric surgeries remain a significant treatment option, particularly for patients with a high BMI who require immediate weight loss to mitigate surgical risks. Fein notes that the persistent side effects and high costs associated with GLP-1 agonists, along with limited coverage, suggest that surgery will continue to be relevant.
Moreover, Fein highlights the substantial market opportunity for Amylyx in treating post-bariatric hypoglycemia (PBH), a condition that is challenging to diagnose and potentially more prevalent than reported. With an estimated 185,000 PBH patients, avexitide could play a crucial role in managing this condition. The combination of these factors supports Fein’s Buy rating for Amylyx, as the company is well-positioned to address these significant healthcare needs.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMLX in relation to earlier this year.