Needham & Company LLC Initiates Coverage on NewAmsterdam Pharma (NASDAQ:NAMS)

Equities research analysts at Needham & Company LLC assumed coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $36.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 123.60% from the company’s current price.

NAMS has been the subject of a number of other research reports. TD Cowen initiated coverage on NewAmsterdam Pharma in a research report on Wednesday, May 15th. They set a “buy” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NewAmsterdam Pharma has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Trading Down 1.3 %

Shares of NASDAQ:NAMS opened at $16.10 on Wednesday. NewAmsterdam Pharma has a 12-month low of $5.63 and a 12-month high of $26.35. The business’s fifty day simple moving average is $18.13 and its 200-day simple moving average is $19.88.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.08. The business had revenue of $2.28 million during the quarter, compared to analyst estimates of $2.20 million. As a group, equities analysts anticipate that NewAmsterdam Pharma will post -2.24 earnings per share for the current year.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CEO Michael H. Davidson bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $17.26 per share, with a total value of $86,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 204,784 shares of the company’s stock, valued at approximately $3,534,571.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds have recently made changes to their positions in the company. Parkman Healthcare Partners LLC boosted its stake in shares of NewAmsterdam Pharma by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company’s stock worth $3,359,000 after buying an additional 51,726 shares during the period. Opaleye Management Inc. acquired a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth about $2,964,000. Yarbrough Capital LLC acquired a new stake in shares of NewAmsterdam Pharma during the first quarter worth about $567,000. Jennison Associates LLC acquired a new stake in shares of NewAmsterdam Pharma during the first quarter worth about $22,015,000. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of NewAmsterdam Pharma during the first quarter worth about $5,407,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

About NewAmsterdam Pharma

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.