NewAmsterdam Pharma (NASDAQ:NAMS) Earns "Buy" Rating from Needham & Company LLC

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $36.00 target price on the stock. Needham & Company LLC's price target would indicate a potential upside of 59.72% from the company's current price.

Several other research analysts have also commented on NAMS. Royal Bank of Canada restated an "outperform" rating and issued a $31.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Piper Sandler restated an "overweight" rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $33.80.

NewAmsterdam Pharma Trading Up 3.5 %

NewAmsterdam Pharma stock traded up $0.76 during midday trading on Thursday, hitting $22.54. 136,088 shares of the company's stock were exchanged, compared to its average volume of 258,838. NewAmsterdam Pharma has a 12-month low of $8.64 and a 12-month high of $26.35. The firm's 50 day simple moving average is $17.38 and its 200 day simple moving average is $18.47.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.48) by $0.30. The company had revenue of $29.11 million for the quarter, compared to analysts' expectations of $5.35 million. Analysts forecast that NewAmsterdam Pharma will post -2.06 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.50% of the company's stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new position in shares of NewAmsterdam Pharma during the second quarter valued at about $38,000. Rosalind Advisors Inc. bought a new stake in NewAmsterdam Pharma in the second quarter valued at approximately $194,000. Wolverine Asset Management LLC increased its stake in shares of NewAmsterdam Pharma by 117.7% during the second quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company's stock worth $298,000 after purchasing an additional 8,394 shares during the period. Sei Investments Co. increased its position in shares of NewAmsterdam Pharma by 49.1% in the second quarter. Sei Investments Co. now owns 24,561 shares of the company's stock worth $472,000 after purchasing an additional 8,087 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of NewAmsterdam Pharma in the 3rd quarter valued at approximately $700,000. 89.89% of the stock is currently owned by institutional investors.

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.