NewAmsterdam Pharma (NASDAQ:NAMS) Receives Consensus Recommendation of “Buy” from Analysts

NewAmsterdam Pharma (NASDAQ:NAMS) has earned an average rating of “Buy” from the six brokerages that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $43.33.

Several brokerages recently issued reports on NAMS. Needham & Company LLC reduced their target price on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Friday, January 24th. UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Scotiabank lifted their price objective 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.

NewAmsterdam Pharma Stock Down 0.1 %

NASDAQ NAMS opened at $23.34 on Tuesday. NewAmsterdam Pharma has a 52 week low of $15.19 and a 52 week high of $27.29. The company has a 50 day moving average price of $21.90 and a 200 day moving average price of $20.83. The firm has a market cap of $2.56 billion, a PE ratio of -8.98 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The firm had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. On average, equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James N. Topper bought 4,005 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $21.02 per share, with a total value of $84,185.10. Following the acquisition, the director now directly owns 3,012,434 shares in the company, valued at $63,321,362.68. This trade represents a 0.13 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the sale, the chief accounting officer now directly owns 15,000 shares in the company, valued at $305,550. This trade represents a 90.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 388,916 shares of company stock valued at $9,231,268. Company insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of NewAmsterdam Pharma by 35.6% in the third quarter. FMR LLC now owns 330,412 shares of the company’s stock worth $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 raised its stake in NewAmsterdam Pharma by 1,231.0% during 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 worth $3,972,000 after purchasing an additional 221,305 shares during the period. JPMorgan Chase & Co. boosted its holdings in NewAmsterdam Pharma by 176.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock valued at $371,000 after purchasing an additional 14,280 shares during the last quarter. State Street Corp grew 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 valued at $629,000 after buying an additional 23,805 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 1,399 shares during the last quarter. Institutional investors and hedge funds 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.