NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) Receives $42.89 Consensus Price Target from Analysts

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $42.89.

Several equities analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on NewAmsterdam Pharma in a research note on Tuesday, June 10th. They issued a “buy” rating and a $44.00 price objective for the company. Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Citigroup assumed coverage on NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a “buy” rating and a $42.00 price objective for the company. Cantor Fitzgerald initiated coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th.

NewAmsterdam Pharma Stock Performance

Shares of NAMS opened at $20.92 on Monday. The stock has a 50-day simple moving average of $19.22 and a 200-day simple moving average of $20.27. The stock has a market capitalization of $2.35 billion, a PE ratio of -11.13 and a beta of -0.03. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29.

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

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $19.29, for a total value of $1,929,000.00. Following the completion of the sale, the chief operating officer owned 44,000 shares in the company, valued at approximately $848,760. The trade was a 69.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James N. Topper acquired 2,520 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, June 24th. The stock was purchased at an average price of $18.43 per share, with a total value of $46,443.60. Following the purchase, the director owned 3,024,873 shares of the company’s stock, valued at $55,748,409.39. The trade was a 0.08% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 12,364 shares of company stock valued at $236,839. 20.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAMS. Deerfield Management Company L.P. Series C lifted its stake in NewAmsterdam Pharma by 378.4% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock valued at $110,879,000 after buying an additional 3,412,590 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake in NewAmsterdam Pharma by 23.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock valued at $409,052,000 after buying an additional 3,061,224 shares during the last quarter. Wellington Management Group LLP lifted its stake in NewAmsterdam Pharma by 2,410.4% in the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company’s stock valued at $59,499,000 after buying an additional 2,222,900 shares during the last quarter. Capital International Investors purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $53,007,000. Finally, Alliancebernstein L.P. acquired a new position in shares of NewAmsterdam Pharma in the fourth quarter valued at approximately $47,752,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

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.