Needham & Company LLC Cuts NewAmsterdam Pharma (NASDAQ:NAMS) Price Target to $42.00

NewAmsterdam Pharma (NASDAQ:NAMS) had its price objective decreased by Needham & Company LLC from $46.00 to $42.00 in a research report report published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research analysts have also recently commented on NAMS. Scotiabank increased their price target on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 11th. HC Wainwright reiterated a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma currently has an average rating of “Buy” and an average price target of $43.80.

NewAmsterdam Pharma Stock Up 0.4 %

Shares of NAMS opened at $21.00 on Thursday. NewAmsterdam Pharma has a 1-year low of $15.19 and a 1-year high of $27.29. The firm’s 50 day simple moving average is $22.55 and its 200 day simple moving average is $20.30.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates 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 anticipate 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 166,011 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $25.39, for a total value of $4,215,019.29. Following the transaction, the insider now owns 11,150,461 shares in the company, valued at approximately $283,110,204.79. This trade represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 404,927 shares of company stock worth $10,390,787. Insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in NewAmsterdam Pharma by 35.6% in the third quarter. FMR LLC now owns 330,412 shares of the company’s stock valued at $5,485,000 after acquiring an additional 86,712 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in NewAmsterdam Pharma by 1,231.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after acquiring an additional 221,305 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in NewAmsterdam Pharma by 176.9% in the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock valued at $371,000 after acquiring an additional 14,280 shares in the last quarter. State Street Corp boosted its holdings in NewAmsterdam Pharma by 168.7% in the third quarter. State Street Corp now owns 37,915 shares of the company’s stock valued at $629,000 after acquiring an additional 23,805 shares in the last quarter. Finally, abrdn plc boosted its holdings in NewAmsterdam Pharma by 69.8% in the third quarter. abrdn plc now owns 129,060 shares of the company’s stock valued at $2,142,000 after acquiring an additional 53,060 shares in the last quarter. 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.