H.C. Wainwright Reiterates Buy Rating on Amylyx Pharmaceuticals inc. (AMLX)

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating and $8.00 price target on Amylyx Pharmaceuticals inc. (NASDAQ: AMLX).

The analyst commented: "On Friday, Amylyx announced that the company is in agreement to buy avexitide, a GLP-1R antagonist from Eiger Pharmaceuticals (EIGR; not rated), under review at the U.S. Bankruptcy Court for the Northern District of Texas. We welcome the unexpected and interesting decision, especially in the post GLP-1R agonist world, which can bring Amylyx to the forefront of the obesity and diabetes drug landscape in a unique way. We found that post GLP1R agonist approvals, the rates of serious medical outcomes mostly attributed to therapeutic errors have jumped to nearly 81% from 2017 to 2021, with rates of serious medical outcomes increasing up to 96% in 2022. Hypoglycemic events form a major part of these events, given the MOA of the GLP1R agonists, in our opinion. Reiterate Buy and $8 price target."

For an analyst ratings summary and ratings history on Amylyx Pharmaceuticals inc. click here. For more ratings news on Amylyx Pharmaceuticals inc. click here.

Shares of Amylyx Pharmaceuticals inc. closed at $1.78 yesterday.

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