Amylyx Pharmaceuticals Inc. (NASDAQ:AMLX) is one of the 7 best small-cap drug manufacturing stocks to buy according to hedge funds.

On March 24, Amylyx Pharmaceuticals Inc. (NASDAQ:AMLX) stated that the final subject in the Phase 3 Lucidity clinical study of avexitide had been randomised and dosed. This 16-week multicentred, randomised, double-blind, placebo-controlled study examines the safety and effectiveness of avexitide in adults with PBH following Roux-en-Y gastric bypass surgery.

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If participants finish the 16-week double-blind phase, the trial can be extended for an additional 32 weeks. 78 people have signed up for the trial, and the topline data readout is scheduled for the third quarter of 2026. Avexitide is expected to go on sale in 2027 if approved.

On March 4, H.C. Wainwright analyst Andrew Fein increased the firm’s price target on Amylyx Pharmaceuticals Inc. (NASDAQ:AMLX) from $28 to $34. The firm maintained its Buy rating on the shares.

The move follows recent engagement with investors and experts, who expressed strong enthusiasm for the Phase 3 LUCIDITY trial. The firm also raised its probability of success estimate for the avexitide program, reflecting increased confidence in its potential.

Amylyx Pharmaceuticals Inc. (NASDAQ:AMLX) focuses on the discovery and development of treatments for endocrine and neurodegenerative diseases. Its portfolio includes AMX0318, Avexitide, which is in phase 3 of clinical trial, AMX0035 in phase 2 and 2b/3 of clinical trial, and AMX0114 in Phase 1 of the clinical trial.

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