NewAmsterdam Pharma (NASDAQ:NAMS) Receives $33.80 Consensus PT from Analysts

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) has earned a consensus recommendation of "Buy" from the seven analysts that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.80.

A number of brokerages have recently issued reports on NAMS. Piper Sandler reiterated an "overweight" rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Needham & Company LLC began coverage on shares of NewAmsterdam Pharma in a research report on Wednesday, August 28th. They set a "buy" rating and a $36.00 price target for the company.

NewAmsterdam Pharma Stock Up 13.7 %

Shares of NAMS traded up $2.63 during mid-day trading on Wednesday, hitting $21.78. The company's stock had a trading volume of 1,062,707 shares, compared to its average volume of 259,409. NewAmsterdam Pharma has a 1-year low of $8.64 and a 1-year high of $26.35. The firm has a 50-day simple moving average of $17.27 and a 200 day simple moving average of $18.44.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.51) EPS for the quarter, beating analysts' consensus estimates of ($0.59) by $0.08. The business had revenue of $2.28 million during the quarter, compared to analyst estimates of $2.20 million. On average, equities analysts anticipate that NewAmsterdam Pharma will post -2.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 can be accessed through this link. 19.50% of the stock is currently owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NAMS. GSA Capital Partners LLP lifted its holdings in NewAmsterdam Pharma by 79.9% in the 3rd quarter. GSA Capital Partners LLP now owns 66,402 shares of the company's stock valued at $1,102,000 after purchasing an additional 29,496 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of NewAmsterdam Pharma in the third quarter valued at approximately $700,000. TimesSquare Capital Management LLC lifted its stake in shares of NewAmsterdam Pharma by 3.7% during the third quarter. TimesSquare Capital Management LLC now owns 255,245 shares of the company's stock valued at $4,237,000 after buying an additional 9,160 shares during the period. abrdn plc boosted its position in NewAmsterdam Pharma by 69.8% during the third quarter. abrdn plc now owns 129,060 shares of the company's stock worth $2,142,000 after acquiring an additional 53,060 shares during the last quarter. Finally, Millennium Management LLC grew its stake in NewAmsterdam Pharma by 23.0% in the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company's stock worth $22,388,000 after acquiring an additional 217,902 shares during the period. Hedge funds and other institutional investors own 89.89% of the company's stock.

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.