NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) Stock Has Consensus Price Target of $49.00 According to Analysts

Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $49.00.

A number of brokerages have issued reports on NAMS. HC Wainwright reaffirmed a “buy” rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Friday, July 17th. BMO Capital Markets began coverage on NewAmsterdam Pharma in a research report on Monday, July 20th. They set an “outperform” rating and a $58.00 target price on the stock. Royal Bank Of Canada decreased their target price on NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a report on Monday, July 20th.

NewAmsterdam Pharma Stock Up 1.5%

NASDAQ NAMS opened at $21.58 on Wednesday. NewAmsterdam Pharma has a 52 week low of $20.91 and a 52 week high of $42.21. The firm has a 50 day moving average of $24.91 and a two-hundred day moving average of $29.95. The stock has a market capitalization of $2.58 billion, a PE ratio of -9.99 and a beta of 0.10.

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

Insider Activity at NewAmsterdam Pharma

In related news, CEO Michael Davidson acquired 10,000 shares of NewAmsterdam Pharma stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $22.65 per share, for a total transaction of $226,500.00. Following the transaction, the chief executive officer owned 792,923 shares of the company’s stock, valued at $17,959,705.95. This represents a 1.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johannes Kastelein sold 50,246 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.03, for a total transaction of $1,257,657.38. Following the sale, the insider owned 69,302 shares of the company’s stock, valued at $1,734,629.06. This represents a 42.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 281,846 shares of company stock worth $7,847,619 in the last ninety days. Company insiders own 12.74% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of NAMS. Bank of America Corp DE boosted its position in shares of NewAmsterdam Pharma by 84.4% in the 1st quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock valued at $27,115,000 after purchasing an additional 387,698 shares during the period. Frazier Life Sciences Management L.P. grew its stake in NewAmsterdam Pharma by 6.8% during the 2nd 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 last quarter. Artia Global Partners LP increased its position in NewAmsterdam Pharma by 158.6% during the fourth quarter. Artia Global Partners LP now owns 503,936 shares of the company’s stock worth $17,678,000 after buying an additional 309,098 shares during the period. Squarepoint Ops LLC increased its position in NewAmsterdam Pharma by 113.9% during the second quarter. Squarepoint Ops LLC now owns 92,026 shares of the company’s stock worth $3,119,000 after buying an additional 49,005 shares during the period. Finally, Capital World Investors lifted its stake in NewAmsterdam Pharma by 1.6% in the fourth quarter. Capital World Investors now owns 9,984,000 shares of the company’s stock valued at $350,239,000 after buying an additional 161,289 shares during the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Company Profile

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.