NewAmsterdam Pharma’s (NAMS) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $42.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Scotiabank lifted their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 27th. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $43.33.

NewAmsterdam Pharma Price Performance

Shares of NAMS opened at $15.16 on Tuesday. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -5.83 and a beta of -0.01. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29. The business’s 50 day simple moving average is $20.76 and its 200-day simple moving average is $21.30.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) 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 analyst estimates of $3.30 million. On average, sell-side analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Activity

In other news, Director James N. Topper bought 1,135 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was acquired at an average cost of $22.49 per share, with a total value of $25,526.15. Following the transaction, the director now directly owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This trade represents a 0.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total value of $3,055,500.00. Following the completion of the sale, the chief accounting officer now owns 15,000 shares of the company’s stock, valued at $305,550. This represents a 90.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Several institutional investors and hedge funds have recently made changes to their positions in NAMS. GF Fund Management CO. LTD. bought a new position in NewAmsterdam Pharma during the 4th quarter worth about $50,000. National Bank of Canada FI bought a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at approximately $80,000. Barclays PLC increased its holdings in NewAmsterdam Pharma by 1,813.4% during the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after buying an additional 7,199 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in NewAmsterdam Pharma in the fourth quarter worth approximately $154,000. 89.89% of the stock is currently owned by institutional investors.

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.