Amylyx Pharmaceuticals Inc, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Andrew Fein from H.C. Wainwright maintained a Buy rating on the stock and has a $16.00 price target.
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Andrew Fein has given his Buy rating due to a combination of factors that highlight the potential of Amylyx Pharmaceuticals Inc. The nearing completion of Phase 3 recruitment for the avexitide trial, coupled with promising Phase 2b results showing a significant reduction in hypoglycemic events, strengthens confidence in the drug’s future prospects. The unmet medical need for post-bariatric hypoglycemia, as indicated by discussions with key opinion leaders and patient feedback, suggests a larger market opportunity than previously recognized.
Additionally, the orphan and breakthrough therapy designations for avexitide suggest it could achieve premium pricing, estimated at $144,000 per patient annually. With a projected sales ramp-up from $10 million in 2028 to $320 million by 2034, the financial outlook is promising. The potential for avexitide to address a significant gap in treatment options for PBH patients, alongside its anticipated market entry in 2027, supports the Buy rating.
Fein covers the Healthcare sector, focusing on stocks such as Amylyx Pharmaceuticals Inc, Insmed, and Biogen. According to TipRanks, Fein has an average return of 10.1% and a 48.38% success rate on recommended stocks.