NewAmsterdam Pharma (NASDAQ:NAMS) Price Target Raised to $48.00

NewAmsterdam Pharma (NASDAQ:NAMS) had its price target raised by Needham & Company LLC from $46.00 to $48.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on NAMS. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Thursday, January 22nd. Royal Bank Of Canada lifted their price target on shares of NewAmsterdam Pharma from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Stifel Nicolaus lifted their price objective on NewAmsterdam Pharma from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Leerink Partners restated an “outperform” rating and set a $55.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, January 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of NewAmsterdam Pharma from $30.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.00.

NewAmsterdam Pharma Stock Performance

Shares of NAMS opened at $35.58 on Wednesday. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $42.00. The firm’s 50-day simple moving average is $33.97 and its two-hundred day simple moving average is $32.54. The stock has a market cap of $4.03 billion, a PE ratio of -20.57 and a beta of 0.06.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, February 18th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.23). The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.92 million. NewAmsterdam Pharma had a negative return on equity of 26.67% and a negative net margin of 906.22%. Equities research analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other news, insider Johannes Jacob Piete Kastelein sold 6,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $33.25, for a total transaction of $199,500.00. Following the transaction, the insider owned 73,481 shares of the company’s stock, valued at $2,443,243.25. This represents a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Louise Frederika Kooij sold 32,612 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $31.80, for a total value of $1,037,061.60. Following the completion of the sale, the chief accounting officer owned 24,353 shares in the company, valued at $774,425.40. This represents a 57.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 298,647 shares of company stock worth $10,236,050 over the last quarter. Company insiders own 20.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NAMS. Empowered Funds LLC bought a new position in NewAmsterdam Pharma in the 4th quarter worth about $85,000. XTX Topco Ltd increased its position in shares of NewAmsterdam Pharma by 1,714.1% in the fourth quarter. XTX Topco Ltd now owns 137,492 shares of the company’s stock worth $4,823,000 after purchasing an additional 129,913 shares during the last quarter. Virtus Investment Advisers LLC raised its stake in NewAmsterdam Pharma by 32.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 7,142 shares of the company’s stock valued at $251,000 after purchasing an additional 1,731 shares in the last quarter. Twinbeech Capital LP bought a new stake in NewAmsterdam Pharma during the fourth quarter valued at approximately $961,000. Finally, Millennium Management LLC purchased a new position in NewAmsterdam Pharma in the 4th quarter worth approximately $8,931,000. 89.89% of the stock is owned by institutional investors.

About NewAmsterdam Pharma

NewAmsterdam Pharma, Inc is a clinical?stage biopharmaceutical company focused on discovering and developing novel small?molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small?molecule candidates at various stages of preclinical and clinical evaluation.