Needham & Company LLC Reaffirms Buy Rating for NewAmsterdam Pharma (NASDAQ:NAMS)

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $42.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 164.82% from the stock’s previous close.

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

NewAmsterdam Pharma Stock Up 0.3 %

NASDAQ NAMS opened at $15.86 on Tuesday. The company has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $21.35. NewAmsterdam Pharma has a 12-month low of $14.06 and a 12-month high of $27.29. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -6.10 and a beta of -0.01.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The company had revenue of $12.77 million during the quarter, compared to the consensus estimate of $3.30 million. Equities analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 15,000 shares in the company, valued at $305,550. The trade was a 90.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James N. Topper acquired 1,135 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the transaction, the director now owns 3,013,569 shares of the company’s stock, valued at $67,775,166.81. This trade represents a 0.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently modified their holdings of NAMS. FMR LLC increased its position in NewAmsterdam Pharma by 35.6% during 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NewAmsterdam Pharma by 1,231.0% during the 3rd 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 purchasing an additional 221,305 shares during the last quarter. State Street Corp lifted its stake in shares of NewAmsterdam Pharma by 168.7% in the 3rd quarter. State Street Corp now owns 37,915 shares of the company’s stock worth $629,000 after purchasing an additional 23,805 shares during the period. Wellington Management Group LLP lifted its stake in shares of NewAmsterdam Pharma by 11.0% in the 3rd quarter. Wellington Management Group LLP now owns 92,223 shares of the company’s stock worth $1,531,000 after purchasing an additional 9,162 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of NewAmsterdam Pharma in the third quarter worth approximately $187,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

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.