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

NewAmsterdam Pharma (NASDAQ:NAMS) posted its quarterly earnings data 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.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ NAMS traded up $1.48 during midday trading on Wednesday, reaching $19.36. 578,964 shares of the company traded hands, compared to its average volume of 635,529. The stock has a 50-day moving average price of $22.86 and a 200 day moving average price of $20.25. NewAmsterdam Pharma has a 52 week low of $15.19 and a 52 week high of $27.29.

Insider Activity at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $26.10, for a total value 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 approximately $284,711,902.20. This represents a 0.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 404,927 shares of company stock valued at $10,390,787. 19.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NAMS. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Finally, Scotiabank boosted their target price on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock 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 MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $41.60.

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.