NewAmsterdam Pharma Company, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Serge Belanger from Needham maintained a Buy rating on the stock and has a $40.00 price target.
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Serge Belanger has given his Buy rating due to a combination of factors surrounding NewAmsterdam Pharma Company’s recent developments. The presentation of Alzheimer’s disease biomarker data from the phase 3 BROADWAY trial of obicetrapib at the Alzheimer’s Association International Conference highlighted significant and clinically meaningful reductions in key biomarkers, particularly in ApoE4 carriers and older patients. This promising data suggests a consistent effect of obicetrapib across various Alzheimer’s biomarkers, reinforcing previous phase 2a proof-of-concept studies and preclinical data.
Furthermore, the excitement from key opinion leaders about the potential of obicetrapib to address unmet treatment needs in Alzheimer’s disease adds to the positive outlook. The potential differentiation of obicetrapib from other lipid-lowering therapies and its possible role in Alzheimer’s prevention present a compelling case for future development. These factors contribute to the positive sentiment and the Buy rating, as they could enhance shareholder value as more clarity on the development path emerges.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $52.00 price target.