NewAmsterdam Pharma Company (NAMS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on November 13. Analyst Roanna Ruiz from Leerink Partners remains neutral on the stock and has a $26.00 price target.
Roanna Ruiz’s Buy rating for NewAmsterdam Pharma Company is based on several key factors. The company has reported its financial results for the third quarter of 2023 and has reaffirmed the timelines for the development of its next-generation oral CETPi, obicetrapib (obi), which is believed to be a promising LDL-lowering therapy for high-risk cardiovascular patients. Furthermore, top-line readouts from two Phase 3 trials are on track to be released in the second half of 2024. Another noteworthy point is that the enrollment completion for obi’s Phase 3 PREVAIL CV outcomes trial is expected in the first quarter of 2024, with top-line data due in 2026.
In addition, the company is set to commence a Phase 3 trial for a fixed-dose combination tablet of obi/ezetimibe in the first quarter of 2024. Earlier Phase 2 data showed that this combination resulted in significant reductions in LDL-C, suggesting that it could have a competitive efficacy profile relative to approved injectable PCSK9i’s. The company also presented prior Phase 2b trial data for obi in Japanese patients with dyslipidemia, which showed significant reductions in LDL-C and ApoB. Lastly, the firm ended the third quarter of 2023 with €348M in cash, which is anticipated to fund operations through 2026. These factors significantly contribute to Roanna Ruiz’s Buy rating for NewAmsterdam Pharma Company.
In another report released on November 13, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.
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NewAmsterdam Pharma Company (NAMS) Company Description:
Frazier Lifesciences Acquisition Corp is a blank check company.
Read More on NAMS:
- NewAmsterdam Pharma Provides Corporate Update and Reports Third Quarter 2023 Financial Highlights
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- NewAmsterdam Pharma initiated with an Outperform at RBC Capital
- NewAmsterdam announces appointment of Somaiya as CFO
- NewAmsterdam Pharma Announces Appointment of Ian Somaiya as Chief Financial Officer
