NewAmsterdam Pharma Company (NAMS) has received a new Buy rating, initiated by H.C. Wainwright analyst, Joseph Pantginis.
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Joseph Pantginis has given his Buy rating due to a combination of factors that highlight the potential of NewAmsterdam Pharma’s lead candidate, obicetrapib. This next-generation cholesterol ester transfer protein inhibitor (CETPi) shows promise in reducing low-density lipoprotein cholesterol (LDL-C) levels, particularly for patients at risk of cardiovascular disease who do not respond adequately to existing therapies. Obicetrapib has demonstrated significant LDL-C reductions in multiple Phase 3 trials, both as a standalone treatment and in combination with other therapies, indicating its potential to become a competitive alternative in the lipid-lowering market.
Pantginis’s confidence is further bolstered by obicetrapib’s differentiated mechanism of action, which impacts several factors associated with major adverse cardiovascular events, and its promising safety profile with tolerability similar to placebo. Additionally, the drug’s once-daily oral formulation offers a practical advantage over injectable alternatives, and there are opportunities for its use in other indications linked to cholesterol homeostasis. The ongoing Phase 3 PREVAIL trial aims to confirm the cardiovascular benefits observed in earlier studies, and if successful, obicetrapib could become a preferred standard of care alongside statins, addressing a large patient population with unmet needs.
In another report released on October 17, Citi also maintained a Buy rating on the stock with a $50.00 price target.