NewAmsterdam Pharma (NAMS) Stock Valuation After New Obicetrapib Phase 3 And PREVAIL Trial Updates

Clinical data on obicetrapib puts NewAmsterdam Pharma in focus

NewAmsterdam Pharma (NasdaqGM:NAMS) has drawn fresh attention after reporting Phase 3 data showing its drug candidate obicetrapib cut LDL cholesterol by 33% and affected Alzheimer’s biomarkers, alongside plans for a PREVAIL trial interim analysis in Q4 2026.

See our latest analysis for NewAmsterdam Pharma.

NewAmsterdam Pharma’s share price has been under pressure in the near term, with a 30 day share price return down 19.47% and year to date share price return down 13.64%. At the same time, the 1 year total shareholder return of 50.42% and 3 year total shareholder return above 3x indicate that longer term investors have seen strong gains. Recent clinical data, the shelf registration, the upcoming NLA presentation and auditor confirmation are all feeding into how the market is reassessing both growth potential and risk around obicetrapib.

If you are watching how clinical milestones affect sentiment, it can be useful to see what is happening across other healthcare related AI opportunities by scanning the 40 healthcare AI stocks.

With NewAmsterdam Pharma now valued around US$3.5b, trading at US$30.40 and sitting at a very large discount to one set of analyst targets and intrinsic estimates, you have to ask: is this a buying opportunity, or is the market already pricing in future growth?

Price to book of 5.3x: Is it justified?

NewAmsterdam Pharma closed at $30.40, and on a P/B of 5.3x it sits cheaper than its peer group average multiple yet richer than the broader US biotechs industry.

The P/B ratio compares the company’s market value to its book value. This can be a useful lens for a late stage biotech where traditional earnings based metrics are less helpful because the company currently reports a loss of $212.73m on revenue of $22.57m.

On this measure, NewAmsterdam Pharma’s 5.3x P/B looks supportive versus similar peers on 6.4x. This suggests the market is not assigning an especially high premium relative to that group. However, the same 5.3x stands well above the 2.3x average for the wider US biotechs sector, so investors are paying a higher multiple than the broader industry for its cardiometabolic and Alzheimer’s pipeline.

See what the numbers say about this price — find out in our valuation breakdown.

Result: Price to book of 5.3x (ABOUT RIGHT)

However, there are still clear pressure points, including ongoing losses of $212.73m on revenue of $22.565m, as well as the clinical, regulatory and funding risks around obicetrapib.

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

Another view: DCF points to a very different story

While the 5.3x P/B suggests NewAmsterdam Pharma trades richer than the broader US biotechs sector, the SWS DCF model paints a different picture. With the stock at $30.40 and an estimated future cash flow value of $139.30, it screens as deeply undervalued. So is the market overly cautious, or is the model too optimistic?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out NewAmsterdam Pharma for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 44 high quality undervalued stocks. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

Next Steps

If the mixed signals in the story so far leave you unsure, consider acting while the data is fresh and weighing the company’s potential yourself using the 3 key rewards.

Looking for more investment ideas?

If NewAmsterdam Pharma is on your radar, do not stop there. Broadening your watchlist with fresh ideas can often reveal opportunities you did not expect.

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.

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