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

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $40.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 97.92% from the stock’s current price.

A number of other brokerages have also issued reports on NAMS. Wall Street Zen raised NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research note on Monday, March 3rd. Cantor Fitzgerald initiated coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an “overweight” rating and a $42.00 price objective on the stock. Stifel Nicolaus initiated coverage on NewAmsterdam Pharma in a research note on Tuesday. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Scotiabank upped their price objective 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, NewAmsterdam Pharma has a consensus rating of “Moderate Buy” and an average price target of $43.00.

NewAmsterdam Pharma Stock Performance

Shares of NAMS stock opened at $20.21 on Thursday. The stock’s fifty day moving average is $18.19 and its 200-day moving average is $20.86. The stock has a market capitalization of $2.27 billion, a PE ratio of -10.75 and a beta of -0.03. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its earnings results on Thursday, May 8th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The firm had revenue of $2.98 million during the quarter, compared to the consensus estimate of $1.46 million. As a group, analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NewAmsterdam Pharma news, Director James N. Topper bought 1,135 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $22.49 per share, with a total value of $25,526.15. Following the acquisition, the director now owns 3,013,569 shares of the company’s stock, valued at $67,775,166.81. The trade was a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NAMS. Quarry LP acquired a new position in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $25,000. GF Fund Management CO. LTD. acquired a new position in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $50,000. National Bank of Canada FI acquired a new position in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $80,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NewAmsterdam Pharma by 130.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock worth $123,000 after acquiring an additional 3,390 shares during the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

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.