NewAmsterdam Pharma price target raised to $48 from $45 at Leerink

Leerink raised the firm’s price target on NewAmsterdam Pharma (NAMS) to $48 from $45 and keeps an Outperform rating on the shares. NewAmsterdam’s positive Phase 3 top-line efficacy results revealed two important takeaways which increase the firm’s conviction in obicetrapib’s future outlook, including obi’s consistently pristine safety profile in a much larger Phase 3 BROADWAY population vs prior Phase 3’s, and an unexpected 21% reductions in MACE events with obi vs PBO and meaningfulearly curve separation after only about 1 year of obi treatment, which is rare in the lipid lowering sector, all of which could have positive readthrough to obi’s Phase 3 CV outcomes top-line in the second half of 2026, in Leerink’s view. The firm updated its model for the BROADWAY results by raising its probability of success for obi to 90% from 85%.