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    NewAmsterdam Pharma (NAMS) Following Trial Progress And EU Approval Is The Valuation Story Changing

    Simply Wall St·09/30/2026 16:26:23
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    NewAmsterdam Pharma (NAMS) has drawn fresh attention after two clinical and regulatory milestones: first dosing in its SPINOZA Phase 2b Alzheimer’s trial and securing European Commission approval for obicetrapib-based therapies.

    NewAmsterdam Pharma’s share price has been under pressure despite the clinical and regulatory progress, with the stock down 32.3% on a 90 day share price return and 32.4% year to date. At the same time, the 3 year total shareholder return of about 199% and 5 year total shareholder return of about 142% point to a much stronger longer run journey, suggesting recent weakness reflects changing expectations around risk rather than a broken long term story.

    Compare NewAmsterdam Pharma’s setup with other late-stage stories by scanning 17 high quality undiscovered gems that are also moving on clinical and regulatory catalysts.

    After a 32% slide this year, yet a multiyear return still very large, NewAmsterdam Pharma now sits at the crossroads. Has most of the payoff already played out, or is meaningful upside still in front of the stock?

    Most Popular Narrative: 53% Undervalued

    NewAmsterdam Pharma last closed at $23.81, while the most followed narrative anchors fair value near $50.92. This creates a wide gap that hinges on how obicetrapib performs in outcomes data and commercial roll out.

    The main requirement for success is that PREVAIL delivers a clinically meaningful cardiovascular outcomes benefit that is consistent with the 21% exploratory MACE reduction seen in BROADWAY and the pooled BROADWAY and BROOKLYN data.

    The current valuation implies that NewAmsterdam Pharma already reflects expectations for a successful PREVAIL readout and a commercially meaningful outcomes label, leaving limited room for error but potential upside if the broader cardiometabolic and Alzheimer’s prevention strategy progresses as anticipated.

    See why 2 investors see NewAmsterdam Pharma as 53% undervalued.

    Result: Fair Value of $50.92 (UNDERVALUED)

    Still, the narrative around NewAmsterdam Pharma can crack if PREVAIL underwhelms on cardiovascular outcomes or if ongoing equity issuance leaves future earnings per share heavily diluted.

    Find out about the key risks to this NewAmsterdam Pharma narrative.

    Next Steps

    Sentiment around NewAmsterdam Pharma is mixed, which makes this a good moment to move quickly, review the numbers yourself, and pressure test the bullish angles that others are focused on with 3 key rewards.

    Looking for more ideas beyond NewAmsterdam Pharma?

    If NewAmsterdam Pharma has your attention, now is the moment to widen your watchlist and line up a few fresh candidates before the next wave of headlines arrives.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.