NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Target Lowered at Royal Bank Of Canada

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price cut by Royal Bank Of Canada from $50.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently weighed in on NAMS. BMO Capital Markets assumed coverage on NewAmsterdam Pharma in a research note on Monday, July 20th. They set an “outperform” rating and a $58.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $52.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Friday, July 17th. Finally, Jefferies Financial Group restated a “buy” rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NewAmsterdam Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

NewAmsterdam Pharma Price Performance

NAMS opened at $22.80 on Monday. The business has a 50 day moving average price of $25.41 and a two-hundred day moving average price of $30.18. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -10.56 and a beta of 0.10. NewAmsterdam Pharma has a 1-year low of $21.02 and a 1-year high of $42.21.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The firm had revenue of $3.70 million for the quarter, compared to analyst estimates of $2.83 million. Equities analysts expect that NewAmsterdam Pharma will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John W. Smither sold 1,600 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $25.32, for a total value of $40,512.00. Following the completion of the transaction, the director owned 8,760 shares in the company, valued at $221,803.20. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Louise Kooij sold 105,000 shares of NewAmsterdam Pharma stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $30.34, for a total value of $3,185,700.00. Following the completion of the transaction, the chief accounting officer directly owned 24,353 shares in the company, valued at $738,870.02. This represents a 81.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 281,846 shares of company stock valued at $7,847,619 over the last ninety days. 12.74% of the stock is currently owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. boosted its holdings in shares of NewAmsterdam Pharma by 6.8% in the second quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock worth $613,033,000 after buying an additional 1,145,128 shares during the period. Capital World Investors raised its holdings in shares of NewAmsterdam Pharma by 1.6% during the fourth quarter. Capital World Investors now owns 9,984,000 shares of the company’s stock valued at $350,239,000 after acquiring an additional 161,289 shares during the period. Maverick Capital Ltd. raised its holdings in shares of NewAmsterdam Pharma by 15.4% during the first quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock valued at $69,987,000 after acquiring an additional 292,176 shares during the period. Castle Hook Partners LP purchased a new stake in shares of NewAmsterdam Pharma in the 4th quarter valued at approximately $38,062,000. Finally, First Turn Management LLC lifted its position in shares of NewAmsterdam Pharma by 24.6% in the 4th quarter. First Turn Management LLC now owns 893,473 shares of the company’s stock valued at $31,343,000 after acquiring an additional 176,502 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

About NewAmsterdam Pharma

NewAmsterdam Pharma is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, with an emphasis on improving the treatment of dyslipidemia and reducing cardiovascular risk. The company’s lead investigational product is obicetrapib, an oral cholesteryl ester transfer protein (CETP) inhibitor designed to lower low-density lipoprotein cholesterol and potentially address other lipid-related abnormalities.

Obicetrapib is being studied as an adjunct to existing lipid-lowering therapies, including in patients who have not achieved adequate cholesterol control and people with heterozygous familial hypercholesterolemia.