Amylyx a new buy at Mizuho on support for ALS therapy Relyvrio
ozgurdonmaz
- Mizuho has initiated Amylyx Pharmaceuticals (NASDAQ:AMLX) with a buy rating saying the firm's conversations with key opinion leaders indicate uptake of the company's ALS therapy Relyvrio is high among doctors and payors.
- The firm has a $52 price target (~88% upside based on Thursday's close).
- Analyst Graig Suvannavejh wrote that although Relyvrio's (sodium phenylbutyrate and taurursodiol) approval was controversial and there are questions about its efficacy, the firm is bullish on its prospects.
- Based on a survey of 35 ALS specialists, doctors are supportive of the drug and patient demand is high given the unmet medical need.
- The survey also found that within the next two to three years, use will rise to 50%, going as high as 70% in five years.
- Suvannavejh also noted that there appears to be little competitive threat to Relyvrio on the horizon.
- Read why Stephen Ayers just issued a sell rating for Amylyx (AMLX).