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

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

NewAmsterdam Pharma Stock Up 3.9 %

Shares of NewAmsterdam Pharma stock opened at $22.64 on Friday. The stock’s fifty day moving average is $17.51 and its 200-day moving average is $18.49. NewAmsterdam Pharma has a 12-month low of $8.64 and a 12-month high of $26.35.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday. Piper Sandler restated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Finally, 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. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $33.80.

Insider Transactions 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several large investors have recently added to or reduced their stakes in NAMS. Banque Cantonale Vaudoise bought a new stake in NewAmsterdam Pharma during the 2nd quarter worth approximately $38,000. Sei Investments Co. grew its holdings in shares of NewAmsterdam Pharma by 49.1% in the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after acquiring an additional 8,087 shares in the last quarter. Wolverine Asset Management LLC lifted its holdings in NewAmsterdam Pharma by 117.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after purchasing an additional 8,394 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in NewAmsterdam Pharma by 3.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 255,245 shares of the company’s stock valued at $4,237,000 after purchasing an additional 9,160 shares during the last quarter. Finally, Rosalind Advisors Inc. acquired a new stake in shares of NewAmsterdam Pharma during the second quarter worth $194,000. Institutional investors and hedge funds 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.