Guggenheim raised its price target for Amylyx Pharmaceuticals to $57. The firm updated its valuation model following successful Phase 3 LUCIDITY trial results for avexitide. Analysts now assign a 95% probability of success to the drug candidate. Recent equity dilution from a stock offering partially offset the target increase.
The revised valuation anticipates $3.5 billion in annual avexitide sales by 2035. The treatment targets a U.S. post-bariatric hypoglycemia market valued at over $10 billion.
Institutional investor Almitas Capital LLC disclosed a new position of 974,881 shares. Amylyx now represents the firm's fourth-largest holding.