NewAmsterdam Pharma (NASDAQ:NAMS) Now Covered by Citigroup

Citigroup initiated coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $42.00 price objective on the stock.

Several other research analysts have also recently issued reports on NAMS. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Stifel Nicolaus initiated coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 10th. They set a “buy” rating and a $44.00 price target for the company. Scotiabank increased their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 27th. Cantor Fitzgerald initiated coverage on shares of NewAmsterdam Pharma in a report on Wednesday, June 4th. They set an “overweight” rating and a $42.00 price target for the company. Finally, UBS Group set a $41.00 price target on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.89.

NewAmsterdam Pharma Stock Performance

Shares of NAMS opened at $18.49 on Tuesday. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -9.84 and a beta of -0.03. The firm has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $20.84.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 37.34% and a negative net margin of 397.45%. The business had revenue of $2.98 million for the quarter, compared to analyst estimates of $1.46 million. Equities research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, Director James N. Topper bought 1,135 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was bought at an average cost of $22.49 per share, with a total value of $25,526.15. Following the completion of the acquisition, the director now owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This represents a 0.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Frazier Life Sciences Management L.P. increased its stake in shares of NewAmsterdam Pharma by 1.3% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 16,116,418 shares of the company’s stock worth $329,903,000 after purchasing an additional 200,000 shares in the last quarter. Bain Capital Life Sciences Investors LLC increased its stake in shares of NewAmsterdam Pharma by 2.3% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock worth $275,481,000 after purchasing an additional 245,197 shares in the last quarter. RA Capital Management L.P. increased its stake in shares of NewAmsterdam Pharma by 14.6% during the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company’s stock worth $207,544,000 after purchasing an additional 1,293,938 shares in the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock worth $110,879,000 after purchasing an additional 3,412,590 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of NewAmsterdam Pharma by 53.0% during the 1st quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company’s stock worth $72,504,000 after purchasing an additional 1,226,852 shares in the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.