NewAmsterdam Pharma (NASDAQ:NAMS) Releases Quarterly Earnings Results

NewAmsterdam Pharma (NASDAQ:NAMS) announced its earnings results on Wednesday. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03), Zacks reports. NewAmsterdam Pharma had a negative return on equity of 27.90% and a negative net margin of 627.59%.The business had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $4.54 million.

NewAmsterdam Pharma Price Performance

NASDAQ NAMS traded down $0.23 during trading hours on Friday, reaching $36.82. 350,959 shares of the stock traded hands, compared to its average volume of 928,582. The stock has a 50 day simple moving average of $31.17 and a two-hundred day simple moving average of $24.26. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $41.47. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -17.95 and a beta of 0.05.

Analyst Ratings Changes

A number of research firms have issued reports on NAMS. Royal Bank Of Canada raised their target price on NewAmsterdam Pharma from $39.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC lifted their price objective on NewAmsterdam Pharma from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Wednesday, October 8th. Wells Fargo & Company assumed coverage on shares of NewAmsterdam Pharma in a research report on Monday, August 25th. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, Citigroup lifted their price objective on shares of NewAmsterdam Pharma from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NewAmsterdam Pharma has a consensus rating of “Moderate Buy” and an average price target of $44.30.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $25.83, for a total value of $3,874,500.00. Following the sale, the chief accounting officer owned 15,000 shares of the company’s stock, valued at $387,450. This trade represents a 90.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James N. Topper purchased 1,260 shares of the stock in a transaction on Monday, September 8th. The shares were acquired at an average cost of $24.99 per share, with a total value of $31,487.40. Following the transaction, the director directly owned 3,027,864 shares in the company, valued at $75,666,321.36. The trade was a 0.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 2,391 shares of company stock worth $58,424 and sold 226,342 shares worth $5,748,019. Company insiders own 20.84% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in shares of NewAmsterdam Pharma by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company’s stock valued at $197,000 after purchasing an additional 544 shares in the last quarter. BNP Paribas Financial Markets lifted its position in NewAmsterdam Pharma by 4.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 29,277 shares of the company’s stock valued at $530,000 after acquiring an additional 1,257 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in NewAmsterdam Pharma during the first quarter worth about $610,000. Exome Asset Management LLC purchased a new stake in NewAmsterdam Pharma in the second quarter worth about $662,000. Finally, Legal & General Group Plc grew its holdings in NewAmsterdam Pharma by 33.5% in the second quarter. Legal & General Group Plc now owns 44,235 shares of the company’s stock worth $801,000 after purchasing an additional 11,106 shares during the period. Hedge funds and other institutional investors own 89.89% of the company’s stock.

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.