Scotiabank analyst George Farmer raised the firm’s price target on NewAmsterdam Pharma (NAMS) to $47 from $35 and keeps an Outperform rating on the shares. Following the release of its Phase 3 BROADWAY results, the firm now estimates the probability of obictrapib approval to be 90% from 70% and believes these results will likely set up the company for an acquisition in the near future, the analyst tells investors.
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