Stifel reiterates NewAmsterdam Pharma stock rating on EU approval

Stifel has maintained its positive outlook on NewAmsterdam Pharma Co NV (NASDAQ:NAMS), upgrading its rating to Buy and setting a $50.00 price target. This assessment comes in light of the company's recent European Union approval for its obicetrapib and ezetimibe fixed-dose combination. Despite the stock's current price near a 52-week low of $21.02 and a 36% year-to-date decline, Stifel sees significant potential in the company's financial position, which currently exceeds its debt.

The PREVAIL trial, expected to deliver interim results in Q1 2027, remains a critical factor for the stock's future performance, with recent data indicating a lower-than-expected event rate. Notably, NewAmsterdam Pharma's CEO, Michael H. Davidson, recently purchased 10,000 shares, adding to investor confidence. Although Novartis's HORIZON trial has not yet met its endpoints, Stifel believes that upcoming data could still influence NewAmsterdam Pharma's market position.