NewAmsterdam Pharma (NASDAQ:NAMS) Receives $33.25 Average Price Target from Analysts

NewAmsterdam Pharma (NASDAQ:NAMS) has been given a consensus rating of “Buy” by the six research firms that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $33.25.

NAMS has been the topic of several analyst reports. TD Cowen initiated coverage on NewAmsterdam Pharma in a report on Wednesday, May 15th. They set a “buy” rating on the stock. Scotiabank initiated coverage on NewAmsterdam Pharma in a report on Thursday, March 14th. They set a “sector outperform” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Friday, June 7th.

Insider Activity at NewAmsterdam Pharma

In other news, Director James N. Topper bought 8,429 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average price of $21.50 per share, for a total transaction of $181,223.50. Following the completion of the acquisition, the director now owns 3,008,429 shares of the company’s stock, valued at $64,681,223.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James N. Topper acquired 8,429 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were bought at an average cost of $21.50 per share, with a total value of $181,223.50. Following the completion of the transaction, the director now directly owns 3,008,429 shares of the company’s stock, valued at approximately $64,681,223.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $21.50, for a total value of $4,095,234.00. The disclosure for this sale can be found here. 19.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NAMS. Fcpm Iii Services B.V. purchased a new position in NewAmsterdam Pharma in the fourth quarter valued at about $132,157,000. Jennison Associates LLC purchased a new stake in shares of NewAmsterdam Pharma during the first quarter worth about $22,015,000. Artal Group S.A. purchased a new stake in shares of NewAmsterdam Pharma during the first quarter worth about $18,920,000. Janus Henderson Group PLC purchased a new stake in shares of NewAmsterdam Pharma during the first quarter worth about $15,018,000. Finally, Opaleye Management Inc. purchased a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth about $2,964,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Price Performance

NewAmsterdam Pharma stock opened at $19.19 on Friday. The stock has a fifty day moving average of $20.15 and a two-hundred day moving average of $18.63. NewAmsterdam Pharma has a fifty-two week low of $5.63 and a fifty-two week high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.08). The firm had revenue of $1.40 million during the quarter, compared to analyst estimates of $2.95 million. Research analysts predict that NewAmsterdam Pharma will post -2.52 earnings per share for the current year.

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.