Wall Street Zen Upgrades Amylyx Pharmaceuticals to Hold Rating

Analysts raise near-term earnings forecasts and boost multi-year outlook for the biotech company.

Published on Mar. 7, 2026

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Wall Street Zen, an investment research firm, has upgraded Amylyx Pharmaceuticals (NASDAQ:AMLX) from a "sell" rating to a "hold" rating in a recent research note. The upgrade comes as analysts at the firm have raised their near-term quarterly earnings per share (EPS) forecasts for Amylyx and materially boosted their multi-year outlook for the company, while maintaining a "Buy" rating and a $34 price target.

Why it matters

The upgrade and improved financial projections from Wall Street Zen represent a vote of confidence in Amylyx's longer-term potential, despite the company's current profitability challenges. Amylyx's lead product candidate, avexitide, is expected to report pivotal Phase 3 "LUCIDITY" trial data in the third quarter of 2026, which could be a key inflection point for the company if the results are positive.

The details

Wall Street Zen cited Amylyx's strong cash runway, with the company reporting a cash balance of approximately $317 million that is expected to fund operations into 2028. This financial flexibility supports the company's commercialization planning efforts ahead of the potential avexitide data readout. Additionally, new coverage initiated by Stifel Nicolaus is seen as a constructive development that could increase Amylyx's visibility and institutional investor interest.

  • Amylyx is expected to report topline results from the Phase 3 LUCIDITY trial of its lead product candidate, avexitide, in the third quarter of 2026.
  • Amylyx reported Q4 2025 earnings, slightly beating consensus EPS expectations but noting that near-term profitability remains a multi-quarter issue.

The players

Wall Street Zen

An investment research firm that covers Amylyx Pharmaceuticals and recently upgraded the company's rating from "sell" to "hold".

Amylyx Pharmaceuticals

A biopharmaceutical company focused on developing treatments for rare and debilitating neurological diseases, headquartered in Cambridge, Massachusetts.

Stifel Nicolaus

An investment bank that recently initiated coverage on Amylyx Pharmaceuticals, which is seen as a constructive development that could increase the company's visibility and institutional investor interest.

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The takeaway

The upgrade and improved financial projections from Wall Street Zen highlight the potential long-term upside for Amylyx Pharmaceuticals, despite the company's current profitability challenges. The upcoming Phase 3 data readout for the company's lead product candidate, avexitide, will be a key inflection point that could further boost investor sentiment if the results are positive.