Needham & Company LLC Has Lowered Expectations for NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) had its price objective reduced by Needham & Company LLC from $46.00 to $42.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 107.20% from the company's current price.

A number of other research analysts have also recently commented on the stock. HC Wainwright reissued a "buy" rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Scotiabank upped their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a "sector outperform" rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NewAmsterdam Pharma presently has an average rating of "Buy" and an average target price of $43.80.

NewAmsterdam Pharma Trading Down 3.5 %

NASDAQ:NAMS traded down $0.73 during mid-day trading on Thursday, hitting $20.27. The company had a trading volume of 844,577 shares, compared to its average volume of 681,669. The business has a fifty day simple moving average of $22.55 and a 200-day simple moving average of $20.32. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -7.80 and a beta of -0.06. NewAmsterdam Pharma has a 1 year low of $15.19 and a 1 year high of $27.29.

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NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.47). The firm had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. As a group, research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the completion of the sale, the insider now owns 11,150,461 shares of the company's stock, valued at $283,110,204.79. This represents a 1.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 404,927 shares of company stock valued at $10,390,787. Company insiders own 19.50% of the company's stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. lifted its holdings in shares of NewAmsterdam Pharma by 23.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock worth $409,052,000 after purchasing an additional 3,061,224 shares during the last quarter. Bain Capital Life Sciences Investors LLC lifted its stake in NewAmsterdam Pharma by 2.3% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company's stock valued at $275,481,000 after buying an additional 245,197 shares during the last quarter. RA Capital Management L.P. boosted its holdings in shares of NewAmsterdam Pharma by 9.7% during the fourth quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company's stock valued at $227,316,000 after acquiring an additional 781,000 shares during the period. Deerfield Management Company L.P. Series C boosted its holdings in shares of NewAmsterdam Pharma by 378.4% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock valued at $110,879,000 after acquiring an additional 3,412,590 shares during the period. Finally, Jennison Associates LLC grew its position in shares of NewAmsterdam Pharma by 291.9% during the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company's stock worth $102,763,000 after acquiring an additional 2,978,263 shares during the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.