Mizuho Securities has designated Amylyx Pharmaceuticals as its top small and midcap biotech stock for 2026, citing the company's pipeline rebound following setbacks to its former ALS asset and progress on a new treatment for post-bariatric hypoglycemia.
The firm raised its price target on Amylyx to $42 from $30, representing approximately 30% upside from the stock’s intraday level of $32–$33. Mizuho maintained an outperform rating on the shares, which it now ranks among its top 2026 picks. Amylyx’s lead candidate, avexitide, demonstrated positive results in the Phase 3 LUCIDITY study, supporting the company’s regulatory strategy.
Analysts at Guggenheim and H.C. Wainwright also upgraded their assessments of Amylyx this week. Guggenheim lifted its price target to $55, while H.C. Wainwright raised its target to $55 and assigned a 100% probability of success to avexitide’s development path.
The company’s earlier asset, Relyvrio, faced a major setback in March 2024 when its Phase 3 PHOENIX study yielded negative results, prompting a strategic shift toward avexitide. Amylyx now anticipates submitting a U.S. regulatory filing by the end of 2026, with a potential product launch in the second half of 2027 if priority review designation is granted.
