NewAmsterdam initiated with an Outperform at Credit Suisse

Credit Suisse analyst Judah Frommer initiated coverage of NewAmsterdam with an Outperform rating and $21 price target. NewAmsterdam is developing obicetrapib, a potential first-in-class oral CETP inhibitor lipidlowering agent that has demonstrated the ability to lower LDL cholesterol levels by 45-50% in patients with elevated cholesterol levels on high-intensity statins and a benign side effect profile, Frommer tells investors in a research note.