NewAmsterdam Pharma (NASDAQ:NAMS) Price Target Cut to $46.00 by Analysts at Needham & Company LLC

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price reduced by equities researchers at Needham & Company LLC from $48.00 to $46.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC‘s price target would indicate a potential upside of 143.52% from the stock’s current price.

Several other research firms also recently weighed in on NAMS. Royal Bank Of Canada dropped their price objective on NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. HC Wainwright reiterated a “buy” rating and set a $52.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Wall Street Zen raised NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Thursday, October 15th. Finally, BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They issued an “outperform” rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.70.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ NAMS traded down $2.04 during trading on Thursday, hitting $18.89. 1,559,643 shares of the company were exchanged, compared to its average volume of 1,173,100. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -8.75 and a beta of 0.15. NewAmsterdam Pharma has a 1 year low of $18.86 and a 1 year high of $42.21. The firm’s fifty day moving average price is $22.43 and its 200 day moving average price is $29.65.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.33. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The business had revenue of $19.16 million during the quarter, compared to the consensus estimate of $8.82 million. On average, research analysts forecast that NewAmsterdam Pharma will post -1.82 earnings per share for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director John W. Smither sold 1,600 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $25.32, for a total transaction of $40,512.00. Following the sale, the director owned 8,760 shares in the company, valued at approximately $221,803.20. This represents a 15.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Davidson purchased 10,000 shares of the company’s stock in a transaction on Monday, September 14th. The shares were bought at an average cost of $22.65 per share, with a total value of $226,500.00. Following the transaction, the chief executive officer directly owned 792,923 shares of the company’s stock, valued at $17,959,705.95. This represents a 1.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 176,846 shares of company stock worth $4,661,919. 12.74% of the stock is owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently modified their holdings of NAMS. Frazier Life Sciences Management L.P. grew its position in shares of NewAmsterdam Pharma by 6.8% in the second quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock valued at $613,033,000 after purchasing an additional 1,145,128 shares during the period. Maverick Capital Ltd. boosted its stake in NewAmsterdam Pharma by 15.4% in the 1st quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock worth $69,987,000 after buying an additional 292,176 shares during the last quarter. Bank of America Corp DE boosted its stake in NewAmsterdam Pharma by 84.4% in the 1st quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock worth $27,115,000 after buying an additional 387,698 shares during the last quarter. SEB Asset Management AB purchased a new stake in NewAmsterdam Pharma in the 1st quarter valued at about $8,728,000. Finally, Stempoint Capital LP grew its holdings in NewAmsterdam Pharma by 147.1% in the 1st quarter. Stempoint Capital LP now owns 180,658 shares of the company’s stock valued at $5,783,000 after buying an additional 107,552 shares during the period. Hedge funds and other institutional investors own 89.89% of the company’s stock.

Key NewAmsterdam Pharma News

Here are the key news stories impacting NewAmsterdam Pharma this week:

• Positive Sentiment: The European Commission approved Ubeslo (obicetrapib) and Evlarco (obicetrapib plus ezetimibe), the first regulatory approvals of obicetrapib worldwide. This is an important step toward commercialization, though sales uptake remains to be demonstrated. Company update and Q3 results
• Positive Sentiment: Third-quarter results beat estimates: the company reported a loss of $0.14 per share versus the consensus loss of $0.47, while revenue of $19.16 million exceeded estimates of $8.82 million. Other coverage said the net loss narrowed and revenue grew. Q3 results and estimates
• Positive Sentiment: Stifel said it continues to view the investment setup as compelling and significantly skewed to the upside, reinforcing an optimistic analyst view. Stifel analyst commentary
• Negative Sentiment: Despite the quarterly improvement, NAMS remains loss-making. Investors may focus on the company’s ability to commercialize its newly approved medicines and move toward profitability.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.