NewAmsterdam Pharma (NASDAQ:NAMS) Posts Earnings Results, Misses Expectations By $0.47 EPS

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

NewAmsterdam Pharma Price Performance

NAMS stock traded up $1.44 during midday trading on Thursday, hitting $21.15. The stock had a trading volume of 367,489 shares, compared to its average volume of 643,936. NewAmsterdam Pharma has a 1-year low of $15.19 and a 1-year high of $27.29. The business has a fifty day moving average price of $22.73 and a two-hundred day moving average price of $20.24.

Analysts Set New Price Targets

NAMS has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Needham & Company LLC decreased their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Scotiabank lifted their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $42.80.

Insider Activity

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $26.10, for a total value of $2,629,000.80. Following the completion of the sale, the insider now directly owns 10,908,502 shares of the company’s stock, valued at approximately $284,711,902.20. This represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 404,927 shares of company stock worth $10,390,787. Company insiders own 19.50% of the company’s stock.

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.