NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Expected to Rise, Scotiabank Analyst Says

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price upped by Scotiabank from $47.00 to $52.00 in a research note released on Thursday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Needham & Company LLC reduced their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $43.80.

NewAmsterdam Pharma Trading Up 6.1 %

Shares of NewAmsterdam Pharma stock opened at $20.91 on Thursday. NewAmsterdam Pharma has a 12-month low of $15.19 and a 12-month high of $27.29. The business’s 50 day moving average is $22.64 and its 200-day moving average is $20.25.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $3.30 million. On average, equities research analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Transactions at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of NewAmsterdam Pharma stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $25.54, for a total value of $762,266.84. Following the completion of the sale, the insider now directly owns 10,656,172 shares in the company, valued at approximately $272,158,632.88. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 404,927 shares of company stock valued at $10,390,787. 19.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C raised its stake in NewAmsterdam Pharma by 378.4% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock valued at $110,879,000 after purchasing an additional 3,412,590 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in NewAmsterdam Pharma by 23.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock valued at $409,052,000 after buying an additional 3,061,224 shares during the period. Jennison Associates LLC raised its position in shares of NewAmsterdam Pharma by 291.9% in the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock valued at $102,763,000 after buying an additional 2,978,263 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of NewAmsterdam Pharma by 2,410.4% during the 4th quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company’s stock worth $59,499,000 after acquiring an additional 2,222,900 shares during the period. Finally, Capital International Investors bought a new position in NewAmsterdam Pharma in the fourth quarter valued at approximately $53,007,000. Institutional investors own 89.89% of the company’s stock.

About NewAmsterdam Pharma

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.