Amylyx price target lowered to $3 from $4 at Baird

Baird analyst Joel Beatty lowered the firm’s price target on Amylyx to $3 from $4 and keeps a Neutral rating on the shares. The firm lowered its target after Amylyx’s release of interim phase 2 data for lead agent AMX0035 in Wolfram syndrome. Data was shown for eight patients who had reached 24 weeks of study, and favorable trends were shown on a variety of endpoints. However, the firm is generally unswayed because this is single-arm, single-site data.