buy rating 27 pt
$Amylyx Pharmaceuticals (AMLX.US)$ Amylyx downgraded to Neutral from Buy at Goldman SachsAmylyx Pharmaceuticals trading resumesAmylyx Pharmaceuticals trading halted, volatility trading pauseAmylyx drops 85% after ALS trial did not meet primary endpointAmylyx reports PHOENIX ALS trial did not meet primary endpointContinue ReadingTrendingIndicesStocksETFsNamePricePrice ChangeSPXS&P 500$5,123.6933.67(0.65%)DJIADow Jones$38,722.6968.66(0.18%)NDXNasdaq 100$18,018.45279.538(1.53%)BTC-USDBitcoin$71,560.84$1.678K(2.4%)More Trending Stocks >Popular ArticlesStock AnalysisMarket NewsInsiders Buy the Dip in These 2 Beaten-Down Stocks23h agoGOGONOVATipRanks ‘Perfect 10’ List: Amazon and Alibaba Have the Best Smart Score Among Large-Cap Stocks1d agoAMZNBABASOXX vs. FTXL: Not All Semiconductor ETFs Are the Same2d agoFTXLSOXXhttps://www.tipranks.com/news/article/docusign-stock-nasdaqdocu-all-signs-point-to-more-upside-in-2024
Marc Goodman, an analyst from Leerink Partners, maintained the Buy rating on Amylyx Pharmaceuticals Inc (AMLX – Research Report). The associated price target is $27.00.
Marc Goodman’s rating is based on an evaluation of potential outcomes from the upcoming PHOENIX study results for Amylyx Pharmaceuticals’ drug Relyvrio in ALS (Amyotrophic Lateral Sclerosis). Despite skepticism due to questions regarding the previous CENTAUR study’s trial conduct and statistical analyses, Goodman acknowledges that a successful outcome from the PHOENIX study could confirm the drug’s efficacy. He assesses the likelihood of a completely negative result as relatively low, and even in the case of a non-statistically significant but positive trend, he does not foresee the drug being pulled from the market. Goodman’s optimism is fueled by the potential confirmation of the drug effect and the company’s strong financial position.
Additionally, Goodman projects a scenario where, in case of less favorable data, the company would likely undertake cost-cutting measures, such as scaling back on European and Canadian operations, to minimize losses and stabilize the stock price. He anticipates that Amylyx Pharmaceuticals would be able to maintain a steady run rate post-restructuring, which would support a Buy rating. This, coupled with the company’s minimal debt and projected long-term earnings per share growth, positions Amylyx as an attractive investment with a positive outlook, justifying Goodman’s Buy recommendation.
Additionally, Goodman projects a scenario where, in case of less favorable data, the company would likely undertake cost-cutting measures, such as scaling back on European and Canadian operations, to minimize losses and stabilize the stock price. He anticipates that Amylyx Pharmaceuticals would be able to maintain a steady run rate post-restructuring, which would support a Buy rating. This, coupled with the company’s minimal debt and projected long-term earnings per share growth, positions Amylyx as an attractive investment with a positive outlook, justifying Goodman’s Buy recommendation.
According to TipRanks, Goodman is a 4-star analyst with an average return of 6.0% and a 44.74% success rate. Goodman covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals, Evolus, and Jazz Pharmaceuticals.
In another report released on March 8, Mizuho Securities also reiterated a Buy rating on the stock with a $32.00 price target.
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Amylyx Pharmaceuticals Inc (AMLX) Company Description:
Amylyx Pharmaceuticals Inc is a clinical-stage pharmaceutical company working on developing a novel therapeutic for amyotrophic lateral sclerosis and other neurodegenerative diseases.
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