Scotiabank Issues Positive Forecast for NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price

NewAmsterdam Pharma (NASDAQ:NAMS) had its price objective boosted by Scotiabank from $47.00 to $52.00 in a research note issued to investors on Thursday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other brokerages also recently issued reports on NAMS. HC Wainwright reissued a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Finally, Needham & Company LLC decreased their price target on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $43.80.

NewAmsterdam Pharma Stock Performance

Shares of NAMS opened at $20.91 on Thursday. The company’s fifty day moving average is $22.64 and its 200-day moving average is $20.25. NewAmsterdam Pharma has a 12 month low of $15.19 and a 12 month high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The company had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. Analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $26.10, for a total value of $2,629,000.80. Following the transaction, the insider now owns 10,908,502 shares in the company, valued at $284,711,902.20. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 404,927 shares of company stock worth $10,390,787. Insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NAMS. abrdn plc boosted its stake in NewAmsterdam Pharma by 69.8% in the third quarter. abrdn plc now owns 129,060 shares of the company’s stock valued at $2,142,000 after acquiring an additional 53,060 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in NewAmsterdam Pharma by 3.7% in the third quarter. TimesSquare Capital Management LLC now owns 255,245 shares of the company’s stock valued at $4,237,000 after buying an additional 9,160 shares during the period. Lisanti Capital Growth LLC bought a new position in NewAmsterdam Pharma during the third quarter worth about $700,000. GSA Capital Partners LLP grew its position in shares of NewAmsterdam Pharma by 79.9% during the 3rd quarter. GSA Capital Partners LLP now owns 66,402 shares of the company’s stock worth $1,102,000 after buying an additional 29,496 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of NewAmsterdam Pharma by 8.9% in the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock valued at $16,937,000 after acquiring an additional 83,115 shares during the last quarter. Institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

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.