NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group began coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $27.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 21.62% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Citigroup assumed coverage on NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a “buy” rating and a $42.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Stifel Nicolaus began coverage on NewAmsterdam Pharma in a research note on Tuesday, June 10th. They set a “buy” rating and a $44.00 price target for the company. Wall Street Zen raised shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Cantor Fitzgerald began coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.30.

NewAmsterdam Pharma Stock Performance

NAMS opened at $22.20 on Thursday. The company’s 50-day simple moving average is $19.35 and its two-hundred day simple moving average is $20.22. The stock has a market capitalization of $2.49 billion, a P/E ratio of -11.81 and a beta of -0.03. NewAmsterdam Pharma has a 52-week low of $14.06 and a 52-week high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data 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 net margin of 397.45% and a negative return on equity of 37.34%. The company had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $1.46 million. Research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In related 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 transaction of $1,929,000.00. Following the completion of the transaction, the chief operating officer directly owned 44,000 shares in the company, valued at approximately $848,760. The trade was a 69.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James N. Topper bought 8,584 shares of the firm’s stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $19.50 per share, for a total transaction of $167,388.00. Following the purchase, the director owned 3,022,153 shares in the company, valued at $58,931,983.50. This trade represents a 0.28% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 12,364 shares of company stock worth $236,839 and have sold 198,612 shares worth $4,025,887. 20.84% of the stock is owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Several institutional investors and hedge funds have recently modified their holdings of the company. Frazier Life Sciences Management L.P. increased its stake in NewAmsterdam Pharma by 1.3% in 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 buying an additional 200,000 shares in the last quarter. Bain Capital Life Sciences Investors LLC lifted its position in shares of NewAmsterdam Pharma by 2.3% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock valued at $275,481,000 after acquiring an additional 245,197 shares in the last quarter. RA Capital Management L.P. boosted its stake in shares of NewAmsterdam Pharma by 14.6% in the first quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company’s stock worth $207,544,000 after acquiring an additional 1,293,938 shares during the period. Deerfield Management Company L.P. Series C grew its position in shares of NewAmsterdam Pharma by 378.4% during the fourth 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 grew its position in shares of NewAmsterdam Pharma by 53.0% during the first 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 currently owned by 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.