NewAmsterdam Pharma (NASDAQ:NAMS) Announces Quarterly Earnings Results

NewAmsterdam Pharma (NASDAQ:NAMS) issued its quarterly earnings results on Wednesday. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47), Zacks reports. The firm had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS traded down $0.77 during midday trading on Friday, hitting $20.15. The company’s stock had a trading volume of 615,613 shares, compared to its average volume of 663,590. NewAmsterdam Pharma has a fifty-two week low of $15.19 and a fifty-two week high of $27.29. The firm’s 50 day moving average is $22.64 and its 200-day moving average is $20.25.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 25,132 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $25.49, for a total value of $640,614.68. Following the completion of the transaction, the insider now owns 10,777,092 shares of the company’s stock, valued at $274,708,075.08. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 404,927 shares of company stock worth $10,390,787. Company insiders own 19.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NAMS. Needham & Company LLC reduced their target price on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank boosted their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.80.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.