Cholesterol Player NewAmsterdam Pharma's Obicetrapib Is A Potential Blockbuster In Cardiovascular Market: Bullish Analyst Says
Portfolio Pulse from Vandana Singh
Piper Sandler initiated coverage on NewAmsterdam Pharma Co. NV (NASDAQ:NAMS) with an Overweight rating and a price target of $37. The company's lead asset, obicetrapib, is a novel CETP inhibitor targeting the cardiovascular market, with potential to be a blockbuster due to the large patient population requiring lipid-lowering treatments. NewAmsterdam is poised for three Phase 3 trial readouts over the next 18 months, with significant growth expected in the non-statin treatment market.
January 16, 2024 | 7:48 pm
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Piper Sandler initiated coverage on NewAmsterdam Pharma with an Overweight rating and a $37 price target, citing the potential of obicetrapib as a blockbuster in the cardiovascular market.
The initiation of coverage by Piper Sandler with a positive outlook and a high price target suggests strong confidence in NewAmsterdam Pharma's lead asset, obicetrapib. This is likely to generate investor interest and could lead to a short-term increase in the stock price, especially given the blockbuster potential of the drug in a growing market.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100