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

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

NewAmsterdam Pharma Stock Performance

Shares of NAMS traded up $1.44 during mid-day trading on Thursday, reaching $21.15. The stock had a trading volume of 367,489 shares, compared to its average volume of 643,936. NewAmsterdam Pharma has a 12 month low of $15.19 and a 12 month high of $27.29. The business has a fifty day moving average of $22.73 and a 200 day moving average of $20.24.

Insiders Place Their Bets

In other news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $25.54, for a total value of $762,266.84. Following the transaction, the insider now owns 10,656,172 shares of the company’s stock, valued at approximately $272,158,632.88. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 404,927 shares of company stock worth $10,390,787 over the last three months. 19.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NAMS. HC Wainwright reissued a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Needham & Company LLC lowered their price target on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Scotiabank lifted their price target on shares of 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.com, the company presently has a consensus rating of “Buy” and an average price target of $42.80.

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.