Brokerages Set NewAmsterdam Pharma (NASDAQ:NAMS) Target Price at $33.25

NewAmsterdam Pharma (NASDAQ:NAMS) has been given an average recommendation of “Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $33.25.

NAMS has been the topic of a number of recent research reports. Scotiabank initiated coverage on shares of NewAmsterdam Pharma in a research note on Thursday, March 14th. They set a “sector outperform” rating and a $35.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, June 7th. Finally, TD Cowen initiated coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, May 15th. They set a “buy” rating on the stock.

Insider Activity

In other news, CEO Michael H. Davidson bought 5,000 shares of NewAmsterdam Pharma stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $17.26 per share, for a total transaction of $86,300.00. Following the purchase, the chief executive officer now owns 204,784 shares of the company’s stock, valued at $3,534,571.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors and hedge funds have recently made changes to their positions in the company. Fcpm Iii Services B.V. bought a new position in shares of NewAmsterdam Pharma in the fourth quarter valued at about $132,157,000. Jennison Associates LLC bought a new position in shares of NewAmsterdam Pharma in the first quarter valued at about $22,015,000. Artal Group S.A. bought a new position in shares of NewAmsterdam Pharma in the first quarter valued at about $18,920,000. Janus Henderson Group PLC bought a new position in shares of NewAmsterdam Pharma in the first quarter valued at about $15,018,000. Finally, Opaleye Management Inc. bought a new position in shares of NewAmsterdam Pharma in the fourth quarter valued at about $2,964,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Stock Up 4.4 %

Shares of NAMS stock opened at $20.87 on Thursday. NewAmsterdam Pharma has a 1 year low of $5.63 and a 1 year high of $26.35. The firm’s fifty day simple moving average is $19.72 and its 200 day simple moving average is $19.78.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its earnings results on Wednesday, May 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.08). The company had revenue of $1.40 million for the quarter, compared to analyst estimates of $2.95 million. On average, analysts anticipate that NewAmsterdam Pharma will post -2.52 earnings per share for the current year.

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.