Amylyx Pharmaceuticals Inc (AMLX) has received a new Buy rating, initiated by Goldman Sachs analyst, Corinne Johnson.
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Corinne Johnson’s rating is based on the promising potential of Amylyx Pharmaceuticals Inc.’s asset, avexitide, which is targeted for the treatment of post-bariatric surgery hypoglycemia. The asset has shown significant promise in multiple Phase 2 studies, reducing the risk associated with its development. Despite ongoing debates about the market opportunity, there is a notable unmet need in this patient population, which Johnson estimates could lead to over $1 billion in peak sales in the United States alone.
Johnson anticipates that as Amylyx approaches Phase 3 results in the first half of 2026, investor recognition of this opportunity will grow, with potential approval expected in 2027. While other pipeline assets exist, they are considered secondary to the primary investment thesis centered on avexitide. Additionally, upcoming Phase 3 data for another asset in primary supranuclear palsy is seen as a high-risk, high-reward scenario, where discontinuation could positively impact investor sentiment by reducing near-term R&D expenses.
According to TipRanks, Johnson is a 3-star analyst with an average return of 1.4% and a 47.90% success rate. Johnson covers the Healthcare sector, focusing on stocks such as Geron, Neurocrine, and Altimmune.
In another report released on June 24, Guggenheim also initiated coverage with a Buy rating on the stock with a $17.00 price target.