Analysts Set NewAmsterdam Pharma (NASDAQ:NAMS) Price Target at $36.20

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) has received a consensus recommendation of "Buy" from the six brokerages that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $36.20.

A number of research analysts have issued reports on NAMS shares. Royal Bank of Canada reiterated an "outperform" rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Scotiabank increased 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, Needham & Company LLC reissued a "buy" rating and set a $36.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, December 5th.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 25,132 shares of NewAmsterdam Pharma stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $25.49, for a total transaction of $640,614.68. Following the completion of the transaction, the insider now directly owns 10,777,092 shares of the company's stock, valued at approximately $274,708,075.08. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. Insiders sold 428,446 shares of company stock worth $10,514,105 in the last quarter. 19.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new position in shares of NewAmsterdam Pharma during the second quarter valued at approximately $38,000. Quarry LP boosted its position in shares of NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company's stock worth $108,000 after purchasing an additional 6,247 shares in the last quarter. Barclays PLC increased its position in NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company's stock valued at $126,000 after buying an additional 7,199 shares in the last quarter. Bellevue Group AG purchased a new stake in NewAmsterdam Pharma in the third quarter valued at about $128,000. Finally, XTX Topco Ltd acquired a new position in shares of NewAmsterdam Pharma during the third quarter valued at about $187,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Trading Up 1.1 %

Shares of NAMS traded up $0.28 on Thursday, reaching $26.23. The stock had a trading volume of 354,642 shares, compared to its average volume of 377,634. The company has a 50-day simple moving average of $21.86 and a 200-day simple moving average of $19.14. NewAmsterdam Pharma has a 12-month low of $10.50 and a 12-month high of $27.29.

About NewAmsterdam Pharma

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.