NewAmsterdam Pharma (NASDAQ:NAMS) Given Buy Rating at Needham & Company LLC

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They currently have a $36.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 65.29% from the company’s current price.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Piper Sandler restated an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Stock Up 13.7 %

Shares of NAMS stock opened at $21.78 on Thursday. The business’s fifty day moving average is $17.27 and its 200 day moving average is $18.44. NewAmsterdam Pharma has a twelve month low of $8.64 and a twelve month high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.30. The business had revenue of $29.11 million for the quarter, compared to analysts’ expectations of $5.35 million. Analysts forecast that NewAmsterdam Pharma will post -2.06 EPS for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 19.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of NAMS. Banque Cantonale Vaudoise bought a new stake in shares of NewAmsterdam Pharma in the second quarter worth approximately $38,000. Rosalind Advisors Inc. purchased a new stake in NewAmsterdam Pharma in the second quarter worth approximately $194,000. Wolverine Asset Management LLC grew its position in NewAmsterdam Pharma by 117.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock worth $298,000 after purchasing an additional 8,394 shares during the period. Sei Investments Co. raised its stake in NewAmsterdam Pharma by 49.1% during the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after buying an additional 8,087 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in NewAmsterdam Pharma during the 3rd quarter valued at $700,000. Institutional investors 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.