Guggenheim Securities raised its price target on Amylyx Pharmaceuticals to $57 from $55, maintaining a buy rating as the firm cited updated clinical-trial data and financing assumptions for the experimental drug Avexitide.
The new target places Guggenheim’s valuation at the top of the analyst consensus range, which spans $20 to $57. The firm also increased its probability of success for Avexitide in treating post-bariatric hypoglycemia from 90% to 95%, citing progress in the Phase 3 LUCIDITY trial and projected commercialization timelines.
H.C. Wainwright similarly raised its price target on Amylyx to $55 from $34, while Mizuho adjusted its target to $42 from $30. Amylyx shares have gained 292% over the past 12 months, trading at $37.08 at the close on August 26.
Guggenheim’s $57 target implies a fully diluted market capitalization of $8.2 billion, based on an estimated cash balance at the end of 2027 and the company’s total diluted share count. The firm projects Avexitide could generate $3.5 billion in annual sales by 2035, with an annual wholesale acquisition cost of approximately $180,000 and a net annual price of $110,000.
The total addressable market for Avexitide in the U.S. alone exceeds $10 billion, targeting patients with post-bariatric hypoglycemia. Guggenheim estimates compliance at 80% and applies a 25% gross-to-net discount in its model. The drug’s lifecycle is projected to extend at least through 2040, with no terminal growth or residual value assumed beyond that horizon.
Amylyx plans to submit a New Drug Application protocol for Avexitide in the fourth quarter of 2026, according to Guggenheim’s note published on August 27.
