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

Mizuho lowered the firm’s price target on Amylyx to $3 from $4 and keeps a Neutral rating on the shares post the Q1 report. The analyst cites updated financials and higher operating expenditures going forward for the target drop. While Relyvrio sales came in higher than anticipated, “sales are essentially moot” given Amylyx’s decision to withdraw the drug from the market following the announcement of negative Phase 3 PHOENIX data in March, the analyst tells investors in a research note.