Amylyx stock rises on Phase 3 trial results date
Amylyx Pharmaceuticals Inc (NASDAQ:AMLX) stock soared 14.5% in post-market trading on Monday following the announcement of Phase 3 LUCIDITY Clinical Trial results for avexitide, a first-in-class GLP-1 receptor antagonist for post-bariatric hypoglycemia. The company stated that they would release topline results on August 18 and host a conference call at 8:00 a.m. ET to discuss the findings.
The updated guidance, which is an improvement from the previous third quarter 2026 timeline, came just hours after Mizuho analyst Graig Suvannavejh raised the price target on Amylyx to $30.00 from $24.00, maintaining an Outperform rating. This adjustment implies a 25% increase from the previous $24.00 target. Suvannavejh highlighted a 79% year-to-date rise in Amylyx shares, compared to 29% for the XBI index.
He explained that the new price target reflects higher launch pricing assumptions and suggests a 39% upside potential, with an estimated $10-15 move higher from current levels if the Phase 3 data is positive.
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