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

NewAmsterdam Pharma (NASDAQ:NAMS) announced its quarterly earnings data on Wednesday. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.47), Zacks reports.

NewAmsterdam Pharma Stock Up 7.9 %

Shares of NASDAQ NAMS traded up $1.41 during mid-day trading on Wednesday, reaching $19.29. The company had a trading volume of 402,055 shares, compared to its average volume of 630,912. NewAmsterdam Pharma has a one year low of $15.19 and a one year high of $27.29. The business’s 50-day simple moving average is $22.86 and its 200 day simple moving average is $20.25.

Analysts Set New Price Targets

Several research firms have recently issued reports on NAMS. HC Wainwright restated a “buy” rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Scotiabank upped their target price 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective 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, NewAmsterdam Pharma currently has an average rating of “Buy” and an average target price of $41.60.

Insider Activity at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the completion of the transaction, the insider now owns 11,150,461 shares of the company’s stock, valued at approximately $283,110,204.79. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 404,927 shares of company stock valued at $10,390,787 over the last ninety days. 19.50% of the stock is owned by corporate insiders.

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.