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

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

NewAmsterdam Pharma Stock Performance

NASDAQ:NAMS traded down $0.77 during mid-day trading on Friday, hitting $20.15. 615,613 shares of the company’s stock traded hands, compared to its average volume of 663,590. The firm’s 50 day simple moving average is $22.64 and its 200 day simple moving average is $20.25. NewAmsterdam Pharma has a 1 year low of $15.19 and a 1 year high of $27.29.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $26.10, for a total transaction of $2,629,000.80. Following the completion of the transaction, the insider now directly owns 10,908,502 shares of the company’s stock, valued at $284,711,902.20. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 404,927 shares of company stock valued at $10,390,787 over the last quarter. Corporate insiders own 19.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

NewAmsterdam Pharma Company Profile

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.