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Stifel reiterated a buy rating and $44.00 price target on NewAmsterdam Pharma Co NV (NASDAQ:NAMS) following the company’s R&D Day presentation. The research firm noted that obicetrapib is a "de-risked, differentiated drug" positioned in the expanding lipid-lowering market.
The R&D Day reinforced Stifel’s positive outlook as management presented what the firm called a "very strong, data-driven case" that the approximately 21% MACE (major adverse cardiovascular events) signal observed in the BROADWAY trial is credible and indicates benefits beyond LDL-C reduction. Additional analyses suggested that Lp(a) and small LDL-P drive significant, additive MACE benefits.
NewAmsterdam Pharma shared market research during the event suggesting a potential $8 billion worldwide opportunity for obicetrapib. Stifel maintains a more conservative estimate of approximately $4.5 billion but still sees "significant upside" for the company’s shares. InvestingPro data reveals the company holds more cash than debt and maintains a strong liquidity position with a current ratio of 19.98, providing financial flexibility for drug development.
The research firm highlighted that even with "much more conservative assumptions," the data implies obicetrapib would "comfortably clear" a greater than 20% benefit in the PREVAIL trial. This projection supports Stifel’s base-case scenario for the drug’s potential.
Stifel also mentioned Alzheimer’s disease as an "emerging/underrated aspect" of the obicetrapib development program, though no specific data points regarding this indication were detailed in the context provided. For deeper insights into NAMS’s financial health, growth prospects, and additional analyst perspectives, explore the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, NewAmsterdam Pharma Co NV has announced promising results from its Phase 3 BROADWAY trial, showing significant reductions in Alzheimer’s disease biomarkers using its cholesterol ester transfer protein inhibitor, obicetrapib. The trial, which primarily aimed to lower low-density lipoprotein cholesterol (LDL-C) in cardiovascular patients, also revealed a 33% reduction in LDL-C levels. Furthermore, the TANDEM trial demonstrated a 48.6% LDL-C reduction with a fixed-dose combination of obicetrapib and ezetimibe. Stifel analysts initiated coverage of NewAmsterdam with a Buy rating and a $44 price target, citing the drug’s potential in the lipid-lowering market and its strong safety profile. Cantor Fitzgerald also began coverage with an Overweight rating and a $42 price target, highlighting the significance of the ongoing PREVAIL trial. RBC Capital maintained an Outperform rating, with a $38 price target, based on obicetrapib’s potential to address unmet needs in the LDL-C lowering market. These developments reflect NewAmsterdam’s ongoing efforts to advance cardiovascular and neurodegenerative disease treatments.
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