Needham & Company LLC Issues Positive Forecast for NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price raised by Needham & Company LLC from $46.00 to $48.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Leerink Partners restated an “outperform” rating and set a $55.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Thursday, January 22nd. The Goldman Sachs Group upped their target price on shares of NewAmsterdam Pharma from $30.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Stifel Nicolaus lifted their price target on NewAmsterdam Pharma from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Royal Bank Of Canada boosted their price objective on NewAmsterdam Pharma from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.18.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $35.76 on Wednesday. The business has a 50-day simple moving average of $34.03 and a 200 day simple moving average of $32.43. NewAmsterdam Pharma has a one year low of $14.06 and a one year high of $42.00. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -17.44 and a beta of 0.06.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23). The firm had revenue of $0.03 million during the quarter. NewAmsterdam Pharma had a negative net margin of 627.59% and a negative return on equity of 28.30%. On average, sell-side analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Transactions at NewAmsterdam Pharma

In other news, insider Johannes Jacob Piete Kastelein sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $33.25, for a total value of $199,500.00. Following the sale, the insider owned 73,481 shares of the company’s stock, valued at $2,443,243.25. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Louise Frederika Kooij sold 75,117 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $36.21, for a total transaction of $2,719,986.57. Following the completion of the transaction, the chief accounting officer owned 15,000 shares of the company’s stock, valued at $543,150. This represents a 83.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 298,647 shares of company stock valued at $10,236,050 in the last quarter. Company insiders own 20.84% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors have recently added to or reduced their stakes in NAMS. Farther Finance Advisors LLC grew its holdings in NewAmsterdam Pharma by 4,425.0% during the 4th quarter. Farther Finance Advisors LLC now owns 724 shares of the company’s stock valued at $25,000 after buying an additional 708 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of NewAmsterdam Pharma by 50.0% in the fourth quarter. Wells Fargo & Company MN now owns 900 shares of the company’s stock worth $32,000 after buying an additional 300 shares in the last quarter. Mather Group LLC. bought a new position in shares of NewAmsterdam Pharma in the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in NewAmsterdam Pharma during the third quarter valued at approximately $30,000. Finally, Navalign LLC bought a new stake in NewAmsterdam Pharma during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.