Fubotv earnings beat by $0.10, revenue topped estimates
James N. Topper, a director at NewAmsterdam Pharma Co N.V. (NASDAQ:NAMS), a pharmaceutical company with a market capitalization of $2.4 billion, recently purchased 1,135 ordinary shares, according to a recent SEC filing. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 8.1x. The shares were acquired at a weighted average price of $22.4851 per share, with the total transaction amounting to approximately $25,520. Following this transaction, Topper, through Frazier Life Sciences X, L.P., holds 3,013,569 shares directly. Additionally, Frazier Lifesciences Sponsor LLC, another entity associated with Topper, holds 3,801,000 shares. The stock has shown strong momentum with a 38% gain over the past six months, though it currently trades slightly below its InvestingPro Fair Value. Get access to 8 more exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
In other recent news, NewAmsterdam Pharma has been highlighted for its promising developments in the cholesterol-lowering drug, obicetrapib. The company reported a strong financial position with a cash balance of $835 million, which supports its preparation for global regulatory submissions. Notably, the firm has seen positive results from three Phase 3 trials—BROADWAY, TANDEM, and BROOKLYN—with significant reductions in LDL-C levels and major adverse cardiovascular events (MACE). The BROADWAY trial alone showed a 33% reduction in LDL-C and a 21% reduction in MACE, indicating substantial cardiovascular benefits.
Analyst George Farmer from Scotiabank (TSX:BNS) has increased the price target for NewAmsterdam Pharma to $52, citing the robust clinical data and the company’s secure financial footing as factors for potential acquisition interest. Meanwhile, H.C. Wainwright has initiated coverage with a Buy rating and a $48 price target, emphasizing obicetrapib’s potential to become a preferred treatment for patients not meeting cholesterol goals with existing therapies. The ongoing PREVAIL trial is expected to further confirm obicetrapib’s cardiovascular benefits.
NewAmsterdam is also focusing on manufacturing and inventory to support potential U.S. and European launches, pending regulatory approval. The firm has secured commercialization rights in Europe through a partnership with the Menarini Group. These developments underscore the company’s strategic priorities as it aims to address unmet needs in cardiovascular health.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.