Needham & Company LLC Cuts NewAmsterdam Pharma (NASDAQ:NAMS) Price Target to $42.00

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price dropped by Needham & Company LLC from $46.00 to $42.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 113.09% from the stock’s current price.

NAMS has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Finally, Scotiabank boosted their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, NewAmsterdam Pharma presently has an average rating of “Buy” and a consensus price target of $42.80.

NewAmsterdam Pharma Stock Performance

Shares of NAMS opened at $19.71 on Thursday. The company has a 50-day simple moving average of $22.73 and a two-hundred day simple moving average of $20.24. NewAmsterdam Pharma has a one year low of $15.19 and a one year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). As a group, equities research analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Buying and Selling

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $25.54, for a total transaction of $762,266.84. Following the sale, the insider now owns 10,656,172 shares of the company’s stock, valued at approximately $272,158,632.88. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 404,927 shares of company stock valued at $10,390,787. Company insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $50,000. Frazier Life Sciences Management L.P. raised its stake in NewAmsterdam Pharma by 23.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock worth $409,052,000 after purchasing an additional 3,061,224 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NewAmsterdam Pharma by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,571 shares of the company’s stock valued at $6,517,000 after purchasing an additional 14,288 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of NewAmsterdam Pharma during the fourth quarter worth $721,000. Finally, Woodline Partners LP grew its stake in shares of NewAmsterdam Pharma by 108.7% in the fourth quarter. Woodline Partners LP now owns 2,430,782 shares of the company’s stock worth $62,471,000 after acquiring an additional 1,266,105 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.