Fubotv earnings beat by $0.10, revenue topped estimates
James N. Topper, a director at NewAmsterdam Pharma Co N.V. (NASDAQ:NAMS), recently purchased 4,005 ordinary shares of the company. The shares were acquired at a weighted average price of $21.0245 per share, amounting to a total transaction value of $84,203. According to InvestingPro data, the stock has shown significant momentum with a 10% return over the past week, while analysts have set price targets ranging from $38 to $53. This purchase increases Topper’s indirect ownership, held through Frazier Life Sciences X, L.P., to 3,012,434 shares. Additionally, Topper holds 3,801,000 shares indirectly through Frazier Lifesciences Sponsor LLC. The company, currently valued at $2.57 billion, maintains a strong financial position with more cash than debt and a healthy current ratio of 8.08. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report about NAMS, helping investors make more informed decisions.
In other recent news, NewAmsterdam Pharma has reported significant developments that may interest investors. The company is preparing for global regulatory submissions of its cholesterol-lowering drug candidate, obicetrapib, supported by a strong financial position, with an unaudited cash balance of $835 million. Positive results from three Phase 3 trials, including BROADWAY, TANDEM, and BROOKLYN, have shown substantial reductions in LDL-C levels, with BROADWAY also demonstrating a notable reduction in major adverse cardiovascular events (MACE). Scotiabank (TSX:BNS) has raised its price target for NewAmsterdam Pharma to $52, citing the strong clinical data and the extension of the drug’s intellectual property to 2043. H.C. Wainwright has initiated coverage with a Buy rating and a $48 price target, highlighting obicetrapib’s potential as a leading treatment for patients not meeting cholesterol goals with statins alone.
Additionally, NewAmsterdam Pharma has decided to halt its planned $150 million share sale, suspending its Automatic Teller Machine (ATM) Prospectus. The decision to terminate the share sale was communicated to TD Cowen, and while the sale of shares is suspended, the Sales Agreement remains in effect. The company has not provided specific reasons for this decision or details on future plans for raising capital. These developments come as NewAmsterdam continues to build manufacturing capacity in anticipation of the U.S. and European launches of obicetrapib, pending regulatory approval.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.