Amylyx stock rises on Phase 3 trial results date
Amylyx Pharmaceuticals Inc (AMLX) shares experienced a 14.5% increase in after-hours trading following the company's announcement that it will release topline results from its Phase 3 LUCIDITY Clinical Trial of avexitide in post-bariatric hypoglycemia on August 18. Mizuho analyst Graig Suvannavejh raised the price target on Amylyx to $30.00 from $24.00, maintaining an Outperform rating, as the analyst believes the new price target implies 39% upside potential and estimates a potential incremental $10-15 move higher from current levels on a positive Phase 3 data outcome.
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