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

NewAmsterdam Pharma (NASDAQ:NAMS) had its price target hoisted by Stifel Nicolaus from $44.00 to $50.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 43.06% from the stock’s previous close.

A number of other research firms have also issued reports on NAMS. Needham & Company LLC upped their price target on NewAmsterdam Pharma from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Citigroup raised their price objective on shares of NewAmsterdam Pharma from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group raised their target price on shares of NewAmsterdam Pharma from $30.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Wells Fargo & Company began coverage on NewAmsterdam Pharma in a research report on Monday, August 25th. They set an “overweight” rating and a $45.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.90.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS traded down $0.40 during midday trading on Tuesday, hitting $34.95. The company’s stock had a trading volume of 345,115 shares, compared to its average volume of 950,596. The firm has a market cap of $3.96 billion, a P/E ratio of -17.01 and a beta of 0.05. The firm’s 50 day moving average is $37.24 and its 200-day moving average is $28.06. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $42.00.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). The company had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $4.54 million. NewAmsterdam Pharma had a negative net margin of 627.59% and a negative return on equity of 28.30%. As a group, analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Institutional Investors Weigh In On NewAmsterdam Pharma

Large investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. boosted its holdings in shares of NewAmsterdam Pharma by 3.0% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company’s stock valued at $300,754,000 after purchasing an additional 490,656 shares during the last quarter. RA Capital Management L.P. grew its position in NewAmsterdam Pharma by 14.6% during the first quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company’s stock valued at $207,544,000 after acquiring an additional 1,293,938 shares during the period. Capital World Investors increased its stake in NewAmsterdam Pharma by 17.1% during the third quarter. Capital World Investors now owns 9,822,711 shares of the company’s stock worth $279,358,000 after acquiring an additional 1,434,986 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of NewAmsterdam Pharma by 42.5% in the 3rd quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock worth $119,407,000 after purchasing an additional 1,252,451 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of NewAmsterdam Pharma by 21.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,020,126 shares of the company’s stock worth $114,332,000 after purchasing an additional 697,129 shares during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

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.