NewAmsterdam Pharma initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Ed Arce initiated coverage of NewAmsterdam Pharma (NAMS) with a Buy rating and $48 price target NewAmsterdam is a late-stage biopharma company developing obicetrapib, a next-generation cholesterol ester transfer protein inhibitor to lower LDL-C, as an adjunct to statin therapy for patients at risk of cardiovascular disease for whom existing therapies are insufficient or not tolerated, the analyst tells investors in a research note. The firm believes obicetrapib, as a low-dose, oral, once-daily treatment, may emerge as the preferred lipid-lowering therapy for patients with hypercholesterolemia, as monotherapy or as a fixed-dose combination with ezetimibe. Obicetrapib has the clinical profile to be transformational for millions of patients not at goal on statins, contends H.C. Wainwright.