Needham & Company LLC Cuts NewAmsterdam Pharma (NASDAQ:NAMS) Price Target to $40.00

NewAmsterdam Pharma (NASDAQ:NAMS) had its price target reduced by Needham & Company LLC from $42.00 to $40.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

NAMS has been the subject of several other reports. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Scotiabank lifted their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Finally, UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $43.00.

NewAmsterdam Pharma Stock Performance

NAMS opened at $18.37 on Thursday. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29. The company’s 50 day simple moving average is $19.52 and its 200 day simple moving average is $21.24. The stock has a market capitalization of $2.02 billion, a PE ratio of -9.77 and a beta of 0.01.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The business had revenue of $2.98 million for the quarter, compared to the consensus estimate of $1.46 million. As a group, sell-side analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. The trade was a 90.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James N. Topper bought 1,135 shares of the stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average price of $22.49 per share, with a total value of $25,526.15. Following the completion of the purchase, the director now directly 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 disclosure for this purchase can be found here. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of NewAmsterdam Pharma by 176.9% during the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock worth $371,000 after buying an additional 14,280 shares in the last quarter. Legal & General Group Plc boosted its stake in NewAmsterdam Pharma by 24.8% during the 4th quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock valued at $590,000 after acquiring an additional 4,556 shares during the last quarter. American Century Companies Inc. bought a new position in NewAmsterdam Pharma during the 4th quarter valued at $8,907,000. Geode Capital Management LLC grew its holdings in NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after acquiring an additional 1,399 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of NewAmsterdam Pharma by 105.1% in the 4th quarter. Swiss National Bank now owns 72,000 shares of the company’s stock worth $1,850,000 after purchasing an additional 36,900 shares during the last quarter. 89.89% of the stock is currently owned by hedge funds and other 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.