Is GLP-1 Stock Amylyx Still a Buy After Skyrocketing 247%?
Amylyx looks promising, but a pullback would improve the opportunity.
Overview
Amylyx Pharmaceuticals (NASDAQ: AMLX) has skyrocketed more than 247% since the start of the year, turning what was once a beaten-down biotech stock into one of the hottest GLP-1 plays on the market. The question, of course, is whether it can go any higher.
The catalyst for most of the stock's recent move is avexitide, Amylyx's experimental treatment for post-bariatric hypoglycemia (PBH).
Details
On Aug. 18, Amylyx reported that avexitide reduced serious hypoglycemic events by 55% compared with placebo in its phase 3 Lucidity trial. The study met its primary endpoint and all secondary endpoints, giving Amylyx the data it needs to move toward a submission to the Food and Drug Administration by the end of this year.
Source
Originally published at www.fool.com.