NewAmsterdam Pharma (NASDAQ:NAMS) Releases Earnings Results, Beats Estimates By $0.30 EPS

NewAmsterdam Pharma (NASDAQ:NAMS) issued its quarterly earnings results on Wednesday. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.30, reports. The company had revenue of $29.11 million during the quarter, compared to the consensus estimate of $5.35 million.

NewAmsterdam Pharma Price Performance

Shares of NAMS opened at $22.64 on Friday. NewAmsterdam Pharma has a 52-week low of $8.64 and a 52-week high of $26.35. The business’s 50 day moving average price is $17.51 and its two-hundred day moving average price is $18.49.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Jennison Associates LLC purchased a new stake in NewAmsterdam Pharma during the 1st quarter worth about $22,015,000. TimesSquare Capital Management LLC bought a new position in shares of NewAmsterdam Pharma during the 1st quarter valued at about $5,407,000. StemPoint Capital LP bought a new position in shares of NewAmsterdam Pharma during the 1st quarter valued at about $1,900,000. Affinity Asset Advisors LLC increased its position in shares of NewAmsterdam Pharma by 129.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 286,200 shares of the company’s stock valued at $6,769,000 after purchasing an additional 161,200 shares during the last quarter. Finally, Baker BROS. Advisors LP bought a new position in shares of NewAmsterdam Pharma during the 1st quarter valued at about $2,290,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on NAMS shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and set a $36.00 price target on shares of NewAmsterdam Pharma in a report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma presently has a consensus rating of “Buy” and a consensus target price of $33.80.

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.