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

NewAmsterdam Pharma (NASDAQ:NAMS) had its price target boosted by Needham & Company LLC from $40.00 to $46.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

NAMS has been the subject of a number of other research reports. The Goldman Sachs Group started coverage on NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a “neutral” rating and a $27.00 price objective for the company. Wells Fargo & Company initiated coverage on NewAmsterdam Pharma in a research report on Monday, August 25th. They issued an “overweight” rating and a $45.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, HC Wainwright initiated coverage on NewAmsterdam Pharma in a research report on Monday, October 20th. They issued a “buy” rating and a $52.00 price target for the company. Eight 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.80.

NewAmsterdam Pharma Stock Performance

NewAmsterdam Pharma stock opened at $38.13 on Wednesday. The stock has a market cap of $4.29 billion, a PE ratio of -23.54 and a beta of 0.05. NewAmsterdam Pharma has a one year low of $14.06 and a one year high of $41.47. The stock has a fifty day moving average of $30.91 and a 200 day moving average of $24.17.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.41) EPS for the quarter, meeting analysts’ consensus estimates of ($0.41). NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%. As a group, sell-side analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper acquired 1,260 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was purchased at an average price of $24.99 per share, with a total value of $31,487.40. Following the completion of the purchase, the director directly owned 3,027,864 shares in the company, valued at approximately $75,666,321.36. The trade was a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the completion of the transaction, the insider directly owned 119,302 shares of the company’s stock, valued at approximately $2,897,845.58. This trade represents a 29.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 2,391 shares of company stock valued at $58,424 and sold 226,342 shares valued at $5,748,019. Corporate insiders own 20.84% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently made changes to their positions in NAMS. RA Capital Management L.P. boosted its stake in shares of NewAmsterdam Pharma by 14.6% in the first quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company’s stock worth $207,544,000 after acquiring an additional 1,293,938 shares during the period. Jennison Associates LLC boosted its stake in NewAmsterdam Pharma by 42.5% during the third quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock valued at $119,407,000 after buying an additional 1,252,451 shares during the last quarter. Wellington Management Group LLP boosted its stake in NewAmsterdam Pharma by 53.0% during the first quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company’s stock valued at $72,504,000 after buying an additional 1,226,852 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in NewAmsterdam Pharma by 54.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company’s stock valued at $54,566,000 after buying an additional 1,062,359 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its stake in NewAmsterdam Pharma by 178.8% during the second quarter. Maverick Capital Ltd. now owns 1,531,874 shares of the company’s stock valued at $27,742,000 after buying an additional 982,405 shares during the last quarter. Institutional investors own 89.89% of the company’s stock.

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.