Amylyx Stock Has A Good Entry Point, Says Bullish Goldman Sachs
Portfolio Pulse from Priya Nigam
Goldman Sachs analyst Corinne Jenkins has upgraded Amylyx Pharmaceuticals Inc (NASDAQ:AMLX) from Neutral to Buy, raising the price target from $45 to $49. Jenkins believes that investor concerns about the ongoing Phase III PHOENIX study are overdone and sees the current stock price as an attractive entry point. She also predicts a more than 60% probability of the PHOENIX trial data demonstrating statistical significance.
July 24, 2023 | 6:01 pm
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POSITIVE IMPACT
Amylyx Pharmaceuticals' stock has been upgraded by Goldman Sachs from Neutral to Buy, with a raised price target of $49. The analyst sees the current price as an attractive entry point and predicts a high probability of success for the ongoing PHOENIX trial.
The upgrade from Goldman Sachs, a highly influential investment bank, is likely to boost investor confidence in Amylyx Pharmaceuticals. The raised price target suggests that the analyst sees significant upside potential for the stock. Furthermore, the positive outlook on the PHOENIX trial could alleviate investor concerns about the company's pipeline, potentially driving further demand for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100