NewAmsterdam Pharma's Cholesterol Drug To See Blockbuster Sales, Bullish Analyst Sees Massive Upside
Portfolio Pulse from Vandana Singh
Needham has initiated coverage on NewAmsterdam Pharma (NASDAQ:NAMS), highlighting its cholesterol drug obicetrapib as a potential blockbuster. The drug showed significant LDL-C reduction in trials, and Needham has set a Buy rating with a $36 price target. Obicetrapib could generate over $2 billion in sales, targeting 30 million patients.
August 28, 2024 | 5:33 pm
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Needham has initiated coverage on NewAmsterdam Pharma with a Buy rating and a $36 price target, citing the potential of its cholesterol drug obicetrapib. The drug has shown significant LDL-C reduction in trials and could generate over $2 billion in sales.
The initiation of coverage by Needham with a Buy rating and a high price target suggests strong confidence in the company's future performance. The promising trial results and potential for blockbuster sales further support a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100