NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated at HC Wainwright

Analysts at HC Wainwright began coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $52.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 42.54% from the company’s previous close.

Several other brokerages have also recently weighed in on NAMS. Royal Bank Of Canada boosted their target price on NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Wednesday, October 8th. Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Citigroup boosted their target price on NewAmsterdam Pharma from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company initiated coverage on NewAmsterdam Pharma in a report on Monday, August 25th. They set an “overweight” rating and a $45.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.20.

NewAmsterdam Pharma Trading Down 3.1%

NASDAQ:NAMS opened at $36.48 on Monday. NewAmsterdam Pharma has a 12 month low of $14.06 and a 12 month high of $41.47. The stock has a 50 day moving average of $28.32 and a two-hundred day moving average of $22.52. The firm has a market cap of $4.11 billion, a P/E ratio of -22.52 and a beta of 0.02.

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

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper acquired 1,260 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were purchased at an average cost of $24.99 per share, for a total transaction of $31,487.40. Following the completion of the acquisition, the director owned 3,027,864 shares of the company’s stock, valued at approximately $75,666,321.36. The trade was a 0.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $25.83, for a total value of $3,874,500.00. Following the completion of the transaction, the chief accounting officer owned 15,000 shares in the company, valued at $387,450. This represents a 90.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,391 shares of company stock worth $58,424 and have sold 226,342 shares worth $5,748,019. 20.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock valued at $80,000 after purchasing an additional 596 shares during the period. PTM Wealth Management LLC purchased a new stake in NewAmsterdam Pharma in the second quarter valued at approximately $256,000. Knights of Columbus Asset Advisors LLC purchased a new stake in NewAmsterdam Pharma in the second quarter valued at approximately $595,000. Arizona State Retirement System purchased a new stake in NewAmsterdam Pharma in the first quarter valued at approximately $215,000. Finally, Trexquant Investment LP purchased a new stake in NewAmsterdam Pharma in the first quarter valued at approximately $1,353,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.