NewAmsterdam Pharma (NASDAQ:NAMS) Now Covered by Truist Financial

Truist Financial started coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $57.00 target price on the stock.

A number of other brokerages have also recently issued reports on NAMS. HC Wainwright upgraded NewAmsterdam Pharma to a “strong-buy” rating in a report on Thursday, February 19th. Guggenheim increased their target price on NewAmsterdam Pharma from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. The Goldman Sachs Group lifted their price target on NewAmsterdam Pharma from $30.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Royal Bank Of Canada boosted their price target on NewAmsterdam Pharma from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, Needham & Company LLC upped their price objective on NewAmsterdam Pharma from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.00.

NewAmsterdam Pharma Stock Down 3.8%

NAMS stock opened at $29.44 on Wednesday. The business has a 50 day moving average price of $32.84 and a two-hundred day moving average price of $33.53. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -17.02 and a beta of 0.04. NewAmsterdam Pharma has a twelve month low of $14.06 and a twelve month high of $42.00.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, February 18th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23). The company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.92 million. NewAmsterdam Pharma had a negative return on equity of 26.67% and a negative net margin of 906.22%. On average, equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 75,117 shares of the firm’s 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 transaction, the chief accounting officer directly owned 15,000 shares of the company’s stock, valued at approximately $543,150. This trade represents a 83.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael H. Davidson sold 443,707 shares of NewAmsterdam Pharma stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $33.25, for a total transaction of $14,753,257.75. Following the completion of the sale, the chief executive officer owned 174,144 shares of the company’s stock, valued at approximately $5,790,288. The trade was a 71.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,466,933 shares of company stock worth $48,448,017. 20.84% of the stock is currently owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors have recently modified their holdings of the stock. Jennison Associates LLC raised its stake in NewAmsterdam Pharma by 42.5% in the third quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock valued at $119,407,000 after purchasing an additional 1,252,451 shares in the last quarter. Atle Fund Management AB grew its stake in NewAmsterdam Pharma by 23.2% during the third quarter. Atle Fund Management AB now owns 193,625 shares of the company’s stock worth $5,507,000 after buying an additional 36,402 shares in the last quarter. Capital World Investors increased its holdings in NewAmsterdam Pharma by 17.1% in the 3rd quarter. Capital World Investors now owns 9,822,711 shares of the company’s stock valued at $279,358,000 after buying an additional 1,434,986 shares during the period. Keybank National Association OH bought a new position in NewAmsterdam Pharma in the 3rd quarter valued at about $455,000. Finally, Franklin Resources Inc. raised its position in shares of NewAmsterdam Pharma by 30.6% in the 2nd quarter. Franklin Resources Inc. now owns 334,212 shares of the company’s stock valued at $6,053,000 after buying an additional 78,300 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors.

About NewAmsterdam Pharma

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.