Citi initiated coverage of NewAmsterdam Pharma (NAMS) with a Buy rating and $42 price target The LDL cholesterol lowering market is “large and with substantial remaining unmet need,” the analyst tells investors in a research note. The firm says upwards of 75% of patients with atherosclerotic cardiovascular disease still need additional therapies to help reach their targeted LDL-C goal level, and the growth of the non-statin market has seen high double digit precent growth year-over-year since 2020. NewAmsterdam’s obicetrapib aims to be a first-in-class agent that would be an add-on to patients on statins to help address LDL-C levels, and with potential to be used in combination therapy with ezetimibe for those who need additional lipid lowering, contends Citi.
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