NewAmsterdam Pharma (NASDAQ:NAMS) Announces Earnings Results

NewAmsterdam Pharma (NASDAQ:NAMS) released its earnings results on Wednesday. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35, FiscalAI reports. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The firm had revenue of $19.16 million during the quarter, compared to analyst estimates of $7.54 million.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS traded up $0.81 during trading on Wednesday, reaching $20.71. The stock had a trading volume of 1,473,854 shares, compared to its average volume of 1,171,273. NewAmsterdam Pharma has a 52 week low of $19.13 and a 52 week high of $42.21. The business’s 50-day moving average price is $22.56 and its 200 day moving average price is $29.71. The stock has a market capitalization of $2.48 billion, a PE ratio of -9.59 and a beta of 0.15.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Sunday. BMO Capital Markets initiated coverage on NewAmsterdam Pharma in a report on Monday, July 20th. They issued an “outperform” rating and a $58.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $45.00 price target on shares of NewAmsterdam Pharma in a report on Monday, July 20th. HC Wainwright restated a “buy” rating and issued a $52.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Finally, Royal Bank Of Canada decreased their price target on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NewAmsterdam Pharma has a consensus rating of “Moderate Buy” and an average price target of $48.90.

Insider Buying and Selling

In other NewAmsterdam Pharma news, CEO Michael Davidson acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average cost of $22.65 per share, for a total transaction of $226,500.00. Following the completion of the acquisition, the chief executive officer directly owned 792,923 shares of the company’s stock, valued at approximately $17,959,705.95. This represents a 1.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Smither sold 1,600 shares of NewAmsterdam Pharma stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $25.32, for a total transaction of $40,512.00. Following the transaction, the director directly owned 8,760 shares in the company, valued at $221,803.20. The trade was a 15.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 176,846 shares of company stock valued at $4,661,919 over the last ninety days. Insiders own 12.74% of the company’s stock.

NewAmsterdam Pharma Company Profile

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.