NewAmsterdam Pharma (NASDAQ:NAMS) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report issued on Thursday,Benzinga reports. They currently have a $40.00 price target on the stock.

Other analysts have also issued research reports about the company. Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Cantor Fitzgerald initiated coverage on NewAmsterdam Pharma in a report on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price objective for the company. Scotiabank boosted their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 27th. Stifel Nicolaus initiated coverage on NewAmsterdam Pharma in a research report on Tuesday, June 10th. They set a “buy” rating and a $44.00 target price on the stock. Finally, UBS Group set a $41.00 target price on NewAmsterdam Pharma in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NewAmsterdam Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

NewAmsterdam Pharma Stock Performance

Shares of NAMS stock opened at $20.21 on Thursday. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29. The stock has a fifty day moving average of $18.19 and a two-hundred day moving average of $20.86. The firm has a market capitalization of $2.27 billion, a PE ratio of -10.75 and a beta of -0.03.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The firm had revenue of $2.98 million during the quarter, compared to analyst estimates of $1.46 million. Equities research analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper purchased 1,135 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average cost of $22.49 per share, with a total value of $25,526.15. Following the completion of the transaction, the director now owns 3,013,569 shares of the company’s stock, valued at approximately $67,775,166.81. This represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new position in NewAmsterdam Pharma during the first quarter valued at $25,000. GF Fund Management CO. LTD. acquired a new position in NewAmsterdam Pharma in the 4th quarter worth about $50,000. National Bank of Canada FI acquired a new position in NewAmsterdam Pharma in the 4th quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in NewAmsterdam Pharma in the 4th quarter worth about $80,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in NewAmsterdam Pharma by 130.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock worth $123,000 after purchasing an additional 3,390 shares during the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.