NewAmsterdam Pharma initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of NewAmsterdam Pharma (NAMS) with an Overweight rating and $45 price target The firm believes cholesteryl ester transfer protein inhibition represents an “exciting new frontier” for lipid lowering and a multibillion dollar opportunity. NewAmsterdam has built obicetrapib on the foundations of four prior CETP inhibitors in the industry and the ongoing PREVAIL study is set up for success, the analyst tells investors in a research note.