NewAmsterdam Pharma Company (NAMS) AI Stock Analysis

• Market Cap: $3.77B
• Dividend Yield: N/A
• Average Volume (3M): 618.82K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 68
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.63
• Shares Outstanding: 114,975,426
• 10 Day Avg. Volume: 673,409
• 30 Day Avg. Volume: 618,824
• PEG Ratio: 0.62
• Price to Book (P/B): 5.87
• Price to Sales (P/S): 178.34
• P/FCF Ratio: -27.11
• Enterprise Value/Market Cap: 0.87
• Enterprise Value/Revenue: 145.97
• Enterprise Value/Gross Profit: 146.36
• Enterprise Value/Ebitda: -13.56
• 1Y Price Target: $48.88
• Price Target Upside: 48.89% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): -1.79
• Revenue Forecast (FY): $44.55M

• Rating: 55 Neutral
• Price Target: $34.00 ▲(3.56% Upside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is anchored by solid financial stability from a low-debt balance sheet, but held back by persistent losses and ongoing cash burn. Technicals are mixed with near-term weakness, while valuation is penalized by negative earnings and no dividend support. Positive recent corporate updates provide some offset via clinical/regulatory progress and funding runway.

Positive Factors

Balance sheet strength

Minimal debt and a sizeable equity base provide durable financial flexibility to fund late-stage trials and initial commercial activities without immediate refinancing. This reduces short-term dilution risk and gives management optionality for partnerships or staged commercialization investments.

Cash runway for milestones

A roughly $729M year-end cash position materially extends runway through pivotal PREVAIL outcomes and initial commercial buildout, lowering immediate financing pressure. That funding buffer supports regulatory submissions, commercial hires, and potential launch sequencing over the next 2–3 years.

Clinical/regulatory progress & IP

Robust LDL-C and Lp(a) efficacy signals, Phase 3 publications, and comprehensive patent coverage create a sustainable product moat if outcomes and approvals hold. EMA validation and published data support regulatory and commercial credibility in a structural cardiometabolic market.

Negative Factors

Sustained cash burn

Consistent negative operating and free cash flow reflects ongoing high development spend and implies reliance on the balance sheet or new financing. Over time this increases dilution risk or constrains investments if clinical or regulatory timing slips, pressuring long-term flexibility.

Persistent large losses

Deep net losses and negative returns on equity indicate the company is not yet converting investment into profits. If commercialization margins or uptake are slower than planned, prolonged losses could limit reinvestment capacity and heighten dependence on external capital.

Revenue volatility and decline

Material revenue contraction and historical volatility reduce predictability of operating cash generation and complicate planning for commercialization scale-up. Until recurring commercial revenue replaces milestone or one-time items, forecasting and margin improvement remain uncertain.

NewAmsterdam Pharma Company Business Overview & Revenue Model

Company Description

NewAmsterdam Pharma Company N.V., a clinical-stage biopharmaceutical company, focuses on improving patient care in populations with metabolic diseases. Its lead investigational candidate, obicetrapib, is a novel, selective inhibitor that targets the Cholesteryl Ester Transfer Protein (CETP), which has been clinically shown to reduce low-density lipoprotein cholesterol (LDL-C) while at the same time substantially increase high-density lipoprotein cholesterol (HDL-C). The company was founded in 2019 and is based in Naarden, the Netherlands.

How the Company Makes Money

NewAmsterdam Pharma generates revenue primarily through the commercialization of its pharmaceutical products, which are sold to healthcare providers, hospitals, and pharmacies. The company may also engage in strategic partnerships with larger pharmaceutical firms for joint development and marketing of its drug candidates, which can provide additional income through upfront payments and royalties on sales. Research grants and funding from government and private entities for clinical trials and product development may also contribute to its revenue. Additionally, licensing agreements for its intellectual property could serve as significant revenue streams, enhancing the company's financial stability.

NewAmsterdam Pharma Company Financial Statement Overview

Summary

Balance sheet strength (minimal leverage and sizeable equity) is a major positive, but it is offset by weak operating performance: volatile/recently contracting revenue and large losses. Cash flow remains a key risk with sustained negative operating/free cash flow and ongoing cash burn despite modest improvement.

Income Statement

Revenue is volatile and recently contracted, with 2025 revenue down ~36% versus 2024 after a strong jump in 2024. Profitability remains weak: 2024 shows a large net loss (about -$242M) and deeply negative margins, consistent with a high-spend biotech model. While 2022 was closer to breakeven relative to revenue, results deteriorated materially in 2023–2024, and 2025 profitability metrics are not provided, limiting visibility into any near-term improvement.

Balance Sheet

The balance sheet is a clear strength: leverage is minimal (debt is near-zero relative to equity across periods), and equity is sizeable (about $683M in 2025) supporting a large asset base (about $769M in 2025). The key weakness is economic returns—return on equity is strongly negative in recent years (e.g., 2023–2024), reflecting ongoing losses and indicating that capital is not currently generating profits.

Cash Flow

Cash generation is a major pressure point. Operating cash flow and free cash flow are consistently negative in 2023–2025 (roughly -$141M to -$159M annually), indicating sustained cash burn. 2022 is an outlier with positive operating and free cash flow, but the business reverted to heavy outflows thereafter; 2025 burn improved modestly versus 2024, yet remains substantial and implies continued reliance on funding sources over time.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	22.50M	45.56M	14.09M	102.69M	0.00
Gross Profit	22.44M	45.56M	14.09M	102.69M	0.00
EBITDA	-242.32M	-241.49M	-176.86M	-22.34M	-41.37M
Net Income	-203.82M	-241.60M	-176.94M	-22.63M	-41.78M
Balance Sheet
Total Assets	769.28M	864.62M	347.10M	478.50M	67.99M
Cash, Cash Equivalents and Short-Term Investments	636.24M	834.19M	340.45M	467.73M	60.38M
Total Debt	202.00K	448.00K	60.00K	126.00K	186.51K
Total Liabilities	85.85M	107.12M	58.70M	48.43M	11.36M
Stockholders Equity	683.43M	757.50M	288.39M	430.07M	56.63M
Cash Flow
Free Cash Flow	-148.03M	-159.24M	-141.24M	10.44M	-29.54M
Operating Cash Flow	-147.78M	-158.56M	-141.22M	10.66M	-29.51M
Investing Cash Flow	-174.92M	-62.85M	-24.00K	-221.00K	-24.00K
Financing Cash Flow	29.52M	659.51M	8.91M	391.90M	84.70M

NewAmsterdam Pharma Company Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 32.83
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NAMS, the sentiment is Negative. The current price of 32.83 is below the 20-day moving average (MA) of 34.42, below the 50-day MA of 34.03, and above the 200-day MA of 29.09, indicating a neutral trend. The MACD of 0.25 indicates Positive momentum. The RSI at 43.25 is Neutral, neither overbought nor oversold. The STOCH value of 26.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NAMS.

NewAmsterdam Pharma Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KNSA	69 Neutral	$3.52B	61.71	11.73%	―	55.68%	―
SLNO	66 Neutral	$2.02B	175.24	5.89%	―	―	44.84%
XENE	63 Neutral	$3.54B	-9.76	-51.76%	―	―	-38.30%
IMVT	62 Neutral	$5.65B	-10.35	-69.35%	―	―	-27.70%
NAMS	55 Neutral	$3.77B	-18.79	-28.29%	―	―	―
VKTX	52 Neutral	$3.85B	-10.47	-47.34%	―	―	-126.16%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

NewAmsterdam Pharma Company Corporate Events

NewAmsterdam Highlights Obicetrapib Progress in Investor Presentation

On March 2, 2026, NewAmsterdam Pharma posted an updated corporate investor presentation detailing recent clinical, commercial, and financial progress around its lead candidate obicetrapib. The company highlighted Phase 2 and Phase 3 data indicating significant LDL-C reductions of roughly 35–40% as monotherapy and about 50% in combination with ezetimibe, plus a roughly 45% cut in Lp(a) and a 21% exploratory one-year MACE reduction favoring obicetrapib, alongside broader biomarker effects including ApoB, non-HDL-C, LDL-P, HDL-C, and markers of glycemic control and renal function.

The presentation underscored obicetrapib’s potential to serve a substantial cardiometabolic market, especially the approximately 30 million U.S. patients on lipid-lowering drugs who remain above LDL-C goals due to product limitations and access hurdles. Management also pointed to strengthened fundamentals, including comprehensive patent protection until mid-2043, publication of key BROOKLYN, BROADWAY and TANDEM Phase 3 results in leading journals, expansion of commercial and medical affairs infrastructure in Europe and the U.S., and an expected year-end 2025 cash balance of about $729 million intended to support a prospective U.S. launch and regulatory milestones such as a planned EMA submission in 2025.

The most recent analyst rating on (NAMS) stock is a Buy with a $52.00 price target. To see the full list of analyst forecasts on NewAmsterdam Pharma Company stock, see the NAMS Stock Forecast page.

NewAmsterdam Pharma outlines 2026 goals after strong 2025 progress

On January 9, 2026, NewAmsterdam Pharma highlighted its 2025 clinical and regulatory progress for obicetrapib and set out key goals for 2026, underscoring its push toward commercialization in cardiovascular disease and potential expansion into neurodegeneration. In 2025, the company reported statistically significant reductions in Alzheimer’s disease biomarker p-tau217 from the Phase 3 BROADWAY trial, presented pooled Phase 3 efficacy and safety data for obicetrapib at major cardiology forums, and secured EMA validation of marketing applications for obicetrapib monotherapy and an obicetrapib/ezetimibe fixed-dose combination in hypercholesterolemia, with a European approval decision anticipated in the second half of 2026. Operationally, NewAmsterdam advanced three Phase 3 programs—PREVAIL, REMBRANDT and RUBENS—completed PREVAIL enrollment at over 9,500 patients, began RUBENS enrollment in December 2025, and plans to launch a dedicated early Alzheimer’s disease trial in 2026, leveraging emerging links between CETP inhibition and neurodegeneration. With approximately $729 million in unaudited cash, cash equivalents and marketable securities at year-end 2025, the company expects to be funded through the PREVAIL cardiovascular outcomes readout and a potential subsequent U.S. commercial launch, positioning it as a significant emerging player in the crowded LDL-C–lowering market and offering potential upside for partners and future shareholders if pivotal data and regulatory reviews are favorable.

The most recent analyst rating on (NAMS) stock is a Buy with a $45.00 price target. To see the full list of analyst forecasts on NewAmsterdam Pharma Company stock, see the NAMS Stock Forecast page.