As previously reported, BofA analyst Charlie Yang upgraded Amylyx (AMLX) to Buy from Neutral with a price target of $10, up from $4.20, based on the firm’s view of avexitide, a drug being developed to control blood sugar that has already shown positive Phase 2 results. The firm thinks avexitide has the potential to become the first approved treatment for post-bariatric hypoglycemia, or PBH, which it calls “a recent phenomenon” stemming from the increasing number of bariatric surgeries. The firm has raised its estimate on the potential peak revenue opportunity by 2035 to greater than $2B, the analyst noted.
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Read More on AMLX:
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