Buy Rating on Amylyx: Avexitide’s High Unmet Need, Strong PBH Opportunity, and Clear Phase III Catalyst Support Upside

LifeSci Capital analyst Rami Katkhuda maintained a Buy rating on Amylyx Pharmaceuticals Inc today and set a price target of $24.00.

Rami Katkhuda has given his Buy rating due to a combination of factors tied to the clinical and commercial potential of Amylyx’s lead asset, avexitide, in post-bariatric hypoglycemia (PBH). Insights from a specialist who manages a large PBH population underscore that a substantial portion of patients remain poorly controlled despite current dietary and off-label pharmacologic approaches, with many experiencing severe, sometimes life-threatening episodes and markedly reduced quality of life. Against this backdrop of high unmet need, the expert views the biological rationale behind avexitide as compelling, given its targeting of the dysregulated GLP-1 and insulin surges seen in PBH. The KOL further indicated that, if Phase III data confirm prior Phase II/IIb findings, avexitide could see broad prescribing in patients who fail standard measures, supporting a robust adoption curve.

In addition, the ongoing Phase III LUCIDITY trial is expected to complete enrollment in early 2026 with top-line data later that year, providing a clear, time-bound clinical catalyst. The KOL’s expectation of a strong likelihood of success in LUCIDITY, based on earlier-stage data, bolsters confidence in a favorable risk–reward profile for AMLX shares. Katkhuda’s current modeling only captures revenue potential in the most severe PBH segment that requires emergency or inpatient care, leaving room for meaningful upside if use expands into a broader patient pool. Finally, while GLP-1–based obesity drugs may influence treatment decisions, the expert does not foresee a significant decline in bariatric surgery volumes, which should sustain the underlying PBH patient base and support the long-term commercial opportunity for avexitide.

In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $18.00 price target.