Analysts Set NewAmsterdam Pharma (NASDAQ:NAMS) Price Target at $33.80

NewAmsterdam Pharma (NASDAQ:NAMS) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $33.80.

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Needham & Company LLC started coverage on shares of NewAmsterdam Pharma in a report on Wednesday, August 28th. They issued a “buy” rating and a $36.00 price objective for the company.

Insider Activity

In related news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction that occurred 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 SEC, which can be accessed through this link. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several large investors have recently modified their holdings of NAMS. Banque Cantonale Vaudoise bought a new stake in NewAmsterdam Pharma during the second quarter valued at $38,000. Rosalind Advisors Inc. bought a new stake in shares of NewAmsterdam Pharma during the 2nd quarter valued at about $194,000. Wolverine Asset Management LLC grew its stake in NewAmsterdam Pharma by 117.7% during the second 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. grew its stake in NewAmsterdam Pharma by 49.1% during the second quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after purchasing an additional 8,087 shares during the period. Finally, Yarbrough Capital LLC bought a new stake in NewAmsterdam Pharma in the first quarter worth approximately $567,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $19.00 on Friday. The firm’s 50 day moving average is $16.71 and its 200 day moving average is $18.60. NewAmsterdam Pharma has a 1 year low of $5.63 and a 1 year high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.08. The company had revenue of $2.28 million for the quarter, compared to the consensus estimate of $2.20 million. As a group, analysts predict that NewAmsterdam Pharma will post -2.06 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.