NewAmsterdam Pharma (NASDAQ:NAMS) Now Covered by Wells Fargo & Company

Wells Fargo & Company started coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research report sent to investors on Monday, Marketbeat reports. The brokerage issued an overweight rating and a $45.00 price target on the stock.

Several other analysts also recently commented on NAMS. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Citigroup assumed coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 17th. They issued a “buy” rating and a $42.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of NewAmsterdam Pharma in a report on Thursday, July 17th. They issued a “neutral” rating and a $27.00 price objective on the stock. Royal Bank Of Canada upped their price objective on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $41.55.

NewAmsterdam Pharma Price Performance

NAMS stock opened at $24.70 on Monday. The firm’s fifty day simple moving average is $21.80 and its 200-day simple moving average is $20.23. The company has a market capitalization of $2.78 billion, a P/E ratio of -15.25 and a beta of -0.02. NewAmsterdam Pharma has a 12 month low of $14.06 and a 12 month high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.37. The business had revenue of $19.15 million for the quarter, compared to the consensus estimate of $1.44 million. NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. As a group, sell-side analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Activity

In related news, COO Douglas F. Kling sold 51,043 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $21.10, for a total value of $1,077,007.30. Following the completion of the sale, the chief operating officer owned 44,000 shares of the company’s stock, valued at approximately $928,400. This represents a 53.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James N. Topper acquired 2,520 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The stock was purchased at an average cost of $18.43 per share, with a total value of $46,443.60. Following the acquisition, the director directly owned 3,024,873 shares of the company’s stock, valued at $55,748,409.39. This trade represents a 0.08% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 12,835 shares of company stock worth $248,134 and sold 248,612 shares worth $5,240,387. Company insiders own 20.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Duquesne Family Office LLC boosted its stake in NewAmsterdam Pharma by 4.0% during the second quarter. Duquesne Family Office LLC now owns 832,175 shares of the company’s stock worth $15,071,000 after buying an additional 31,815 shares during the period. Exome Asset Management LLC purchased a new position in NewAmsterdam Pharma during the second quarter worth about $662,000. Frazier Life Sciences Management L.P. boosted its stake in NewAmsterdam Pharma by 3.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company’s stock worth $300,754,000 after buying an additional 490,656 shares during the period. BNP Paribas Financial Markets lifted its position in shares of NewAmsterdam Pharma by 4.5% during the second quarter. BNP Paribas Financial Markets now owns 29,277 shares of the company’s stock worth $530,000 after purchasing an additional 1,257 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of NewAmsterdam Pharma by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company’s stock valued at $54,566,000 after purchasing an additional 1,062,359 shares during the period. Hedge funds and other 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.