Amylyx down after analysts downgrade stock post ALS drug's failure in crucial study
** Shares of drugmaker Amylyx Pharmaceuticals AMLX.O fall 5.8% to $3.58 premarket
** AMLX shares hit a record low on Friday after company said it was considering withdrawing its amyotrophic lateral sclerosis (ALS) treatment, Relyvrio, from the market after the drug failed to slow disease progression in a late-stage trial
** Brokerage Baird cuts rating to "neutral" from "buy" and cuts PT to $4 from $37
** At least two other brokerages have downgraded stock since Friday
** H.C. Wainwright cuts PT to $8 from $42
** Given the outcome of the trial, removal of Relyvrio in ALS "is imminent in the second quarter" - brokerage
** Up to last close, stock down 87.6% in the last 12 months
Reporting by Sneha S K in Bengaluru
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