Stifel analyst James Condulis reiterated a Buy rating and $45.00 price target on Amylyx Pharmaceuticals inc. (NASDAQ: AMLX).

The analyst commented, "As part of Stifel's Virtual Cardiometabolic Forum, we hosted Co-CEOs Justin Klee and Josh Cohen to discuss all things avexitide where management remains confident in the strength of the ph3 data, a potential approval (NDA submission 4Q26), and the potential commercial opportunity within PBH. For the stock, while we're interested in the full detailed data (hopefully by YE26), the data are pretty unequivocal with investor focus naturally on the commercial opportunity. Discussed more below, we think management makes a very credible case (size/TAM, unmet need, physician enthusiasm for avexitide, etc.) for PBH being a very large rare opportunity which, in our view (even as the Street more broadly has become optimistic on the PBH TAM) still allows for upside to shares over time. And broadly, we continue to think rare endo is a compelling broader therapeutic area with a growing number of relevant/big comps (CRNX/VRTX, RYTM, etc.)."

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Shares of Amylyx Pharmaceuticals inc. closed at $29.10 yesterday.