Oct 3
Citi ups Amylyx target, sees buying opportunity after selloff 10/03 AMLX Citi analyst Neena Bitritto-Garg raised the firm's price target on Amylyx Pharmaceuticals to $50 from $48 and keeps a Buy rating on the shares. The analyst updated her model on full FDA approval for AMX0035, now Relyvrio. The final net price of $158,000 per year, below the $170,000 price for edaravone, "should enable rapid payer discussions and garner goodwill from physicians/patient advocacy groups, driving rapid uptake in demand and sales recognition," Bitritto-Garg tells investors in a research note. The analyst says continued weakness in the shares on financing overhang and the PHOENIX readout concerns "sets up an attractive upside into initial launch numbers" and European approval. Bitritto-Garg sees a buying opportunity at current Amylyx shared levels.