Amylyx upgraded to Outperform from Neutral at Baird

Baird analyst Joel Beatty upgraded Amylyx (AMLX) to Outperform from Neutral with a price target of $11, up from $3. The firm has become more favorable on avexitide, a GLP-1 receptor antagonist that Amylyx acquired in July from Eiger, and added it to the company’s model. Phase 3 results for avexitide in post-bariatric hypoglycemia are expected in 2026, the analyst tells investors in a research note. Baird models $815M in sales in 2033 if approved and sees a 60% probability of approval. The firm views the rest of Amylyx’s pipeline beyond avexitide as upside.