NewAmsterdam Pharma (NASDAQ:NAMS) Releases Earnings Results

NewAmsterdam Pharma (NASDAQ:NAMS) announced its earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.33, FiscalAI reports. NewAmsterdam Pharma had a negative net margin of 789.95% and a negative return on equity of 31.04%. The company had revenue of $19.16 million for the quarter, compared to analyst estimates of $8.82 million.

NewAmsterdam Pharma Stock Performance

NAMS traded up $0.12 during trading on Friday, reaching $19.01. 973,432 shares of the company’s stock were exchanged, compared to its average volume of 1,173,754. The company’s fifty day moving average price is $22.26 and its 200-day moving average price is $29.59. NewAmsterdam Pharma has a fifty-two week low of $18.50 and a fifty-two week high of $42.21. The firm has a market capitalization of $2.27 billion, a PE ratio of -11.30 and a beta of 0.15.

Wall Street Analyst Weigh In

NAMS has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Thursday, October 15th. Needham & Company LLC decreased their price objective on NewAmsterdam Pharma from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $52.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Jefferies Financial Group restated a “buy” rating and set a $45.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. Finally, BMO Capital Markets assumed coverage on NewAmsterdam Pharma in a research note on Monday, July 20th. They set an “outperform” rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

Insider Activity

In other news, Director John W. Smither sold 1,600 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $25.32, for a total value of $40,512.00. Following the transaction, the director directly owned 8,760 shares in the company, valued at $221,803.20. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Davidson acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was bought at an average price of $22.65 per share, with a total value of $226,500.00. Following the acquisition, the chief executive officer directly owned 792,923 shares of the company’s stock, valued at $17,959,705.95. The trade was a 1.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 176,846 shares of company stock valued at $4,661,919 in the last 90 days. 12.74% of the stock is owned by company insiders.

About NewAmsterdam Pharma

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.