In a remarkable display of market confidence, shares of NAMS have surged to a 52-week high, reaching a price level of $26.36. With a market capitalization of $2.37 billion and a strong current ratio of 10.61, InvestingPro analysis suggests the stock is currently trading near its Fair Value. This milestone underscores a period of significant growth for the company, which has seen its stock value skyrocket with an 88.98% return over the past year and a robust 65.8% YTD gain. Analysts maintain a bullish outlook, with price targets ranging from $29.38 to $49.67. InvestingPro subscribers can access 8 additional key insights about NAMS, including detailed financial health scores and comprehensive Pro Research Reports that provide actionable intelligence for smarter investment decisions.
In other recent news, NewAmsterdam Pharma Company has reported positive results from its Phase 3 BROADWAY and TANDEM clinical trials for the drug obicetrapib, demonstrating significant reductions in low-density lipoprotein cholesterol (LDL-C) levels. Leerink Partners, in response to these developments, have raised their price target for the company to $45, maintaining an Outperform rating. Analysts at Piper Sandler and TD Cowen have also maintained positive ratings for the company.
NewAmsterdam has also announced plans to restate its financial statements for the years ending 2022 and 2021 due to identified errors in the calculation of net loss per ordinary share. The company has added new members, Mark C. McKenna and Wouter Joustra, to its Board of Directors.
Looking ahead, NewAmsterdam is preparing for the Phase 3 BROADWAY trial readout, expected in the fourth quarter of 2024, and the Phase 3 HORIZON trial of pelacarsen in 2025. These are the recent developments for NewAmsterdam.
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