In a report released on March 5, Marc Goodman from Leerink Partners maintained a Hold rating on Amylyx Pharmaceuticals Inc (AMLX – Research Report), with a price target of $4.00.
Marc Goodman has given his Hold rating due to a combination of factors related to Amylyx Pharmaceuticals Inc’s recent financial and pipeline updates. The company reported its fourth-quarter 2024 earnings and shared updates on its ongoing clinical programs, including the upcoming release of data from the Phase 2 HELIOS trial for Wolfram syndrome and the Phase 2b/3 ORION trial for progressive supranuclear palsy. These developments are crucial as they will guide the design of future pivotal trials and provide insights into the efficacy and safety of their treatments.
Additionally, Amylyx plans to release early cohort data from the Phase 1 LUMINA study in ALS in 2025, with further progress expected in the Phase 3 LUCIDITY trial for avexitide in PBH. The company’s financial position appears stable, with approximately $177 million in cash at the end of 4Q24, supplemented by an additional $66 million raised in January, providing a cash runway into the end of 2026. Despite these promising developments, the Hold rating reflects a cautious approach as investors await more definitive data from these trials to better assess the company’s long-term growth potential.
Goodman covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Biohaven Ltd., and Avadel Pharmaceuticals. According to TipRanks, Goodman has an average return of 4.1% and a 45.05% success rate on recommended stocks.