NewAmsterdam Pharma’s (NAMS) Buy Rating Reaffirmed at Needham & Company LLC

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

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

NewAmsterdam Pharma Stock Performance

Shares of NAMS opened at $15.86 on Tuesday. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The business has a 50-day moving average of $21.00 and a 200 day moving average of $21.35. The firm has a market cap of $1.74 billion, a P/E 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 analysts’ consensus estimates of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $3.30 million. As a group, research analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper bought 1,135 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of $22.49 per share, for a total transaction of $25,526.15. Following the completion of the transaction, the director now directly owns 3,013,569 shares in the company, valued at $67,775,166.81. This represents a 0.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total value of $3,055,500.00. Following the completion of the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. This represents a 90.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds have recently bought and sold shares of NAMS. GF Fund Management CO. LTD. bought a new position in shares of NewAmsterdam Pharma in the 4th quarter worth $50,000. National Bank of Canada FI bought a new position in NewAmsterdam Pharma in the fourth quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter worth about $80,000. Barclays PLC increased its position in shares of NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of NewAmsterdam Pharma during the 4th quarter valued at about $154,000. 89.89% of the stock is currently owned by 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.