NewAmsterdam Pharma (NASDAQ:NAMS) Receives Consensus Rating of “Buy” from Analysts

NewAmsterdam Pharma (NASDAQ:NAMS) has received a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $43.33.

Several analysts recently weighed in on NAMS shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Scotiabank boosted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. UBS Group set a $41.00 target price on NewAmsterdam Pharma in a report on Monday, March 3rd. Needham & Company LLC cut their price target on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th.

Insiders Place Their Bets

In related news, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, March 4th. The shares were 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. The trade was a 90.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James N. Topper acquired 4,005 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $21.02 per share, for a total transaction of $84,185.10. Following the completion of the transaction, the director now owns 3,012,434 shares in the company, valued at approximately $63,321,362.68. The trade was a 0.13 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 388,916 shares of company stock worth $9,231,268 in the last quarter. 19.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in NewAmsterdam Pharma by 1.6% in the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after buying an additional 1,399 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth about $50,000. National Bank of Canada FI purchased a new stake in NewAmsterdam Pharma during the fourth quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in NewAmsterdam Pharma in the fourth quarter valued at approximately $80,000. Finally, Legal & General Group Plc increased its stake in NewAmsterdam Pharma by 24.8% in the fourth quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock valued at $590,000 after purchasing an additional 4,556 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Trading Down 0.1 %

Shares of NASDAQ:NAMS opened at $23.34 on Tuesday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -8.98 and a beta of -0.04. NewAmsterdam Pharma has a 12-month low of $15.19 and a 12-month high of $27.29. The business has a 50-day moving average price of $21.90 and a 200 day moving average price of $20.83.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. As a group, equities research analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal 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.