Amylyx initiated with a Buy at Guggenheim on ‘blockbuster potential’

As previously reported, Guggenheim initiated coverage of Amylyx (AMLX) with a Buy rating and $17 price target The firm believes Amylyx will be first-to-market in the $2B-plus opportunity for the “not-so-rare” endocrine disease, post-bariatric hypoglycemia, the analyst tells investors. Avexitide is a potential first-in-disease, first-in-class once-daily peptide currently advancing toward results in the pivotal Phase 3 LUCIDITY study for PBH, notes the analyst, who believes LUCIDITY has “a strong chance” of replicating avexitide’s clinically meaningful and statistically significant Phase 2/2b results. Expert insights and the firm’s research give it confidence PBH is an “underappreciated $2B+ market” with as many as 50,000-100,000 moderate-to-severe patients in the U.S., the analyst added.