Cantor raises NewAmsterdam Pharma stock price target to $61

Investing.com reports that Cantor Fitzgerald boosted its price target for NewAmsterdam Pharma Co NV (NASDAQ:NAMS) to $61, up from $52, while keeping an Overweight rating. The stock, which is trading at $19.18 and near its 52-week low of $17.90, has upside potential of over 200% to the new target. Shares have dropped 8.4% in the past week and 52% over six months.

Cantor also increased its probability-of-success for obicetrapib from 65% to 75% and adjusted its revenue and expense estimates accordingly. They removed 2027 U.S. obicetrapib revenue from their estimates based on feedback from NewAmsterdam Pharma. The $61 price target is based on a discounted cash flow model. Despite NAMS appearing overvalued relative to its Fair Value, analyst targets suggest significant upside potential.