NewAmsterdam Pharma (NASDAQ:NAMS) Receives Consensus Recommendation of "Buy" from Brokerages

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) has been assigned a consensus rating of "Buy" from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $41.60.

A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Scotiabank increased their price objective on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, December 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a report on Friday, January 24th.

Insider Activity

In related news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of NewAmsterdam Pharma stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $26.10, for a total transaction of $2,629,000.80. Following the sale, the insider now directly owns 10,908,502 shares in the company, valued at approximately $284,711,902.20. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 404,927 shares of company stock valued at $10,390,787 over the last three months. Corporate insiders own 19.50% of the company's stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several large investors have recently made changes to their positions in NAMS. National Bank of Canada FI purchased a new position in NewAmsterdam Pharma in the fourth quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at $80,000. Quarry LP raised its stake in shares of NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company's stock valued at $108,000 after buying an additional 6,247 shares during the period. Barclays PLC grew its stake in shares of NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company's stock worth $126,000 after acquiring an additional 7,199 shares during the period. Finally, Bellevue Group AG bought a new position in shares of NewAmsterdam Pharma during the 3rd quarter worth $128,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Stock Performance

NAMS traded up $0.51 during trading on Friday, hitting $19.91. 740,863 shares of the company's stock were exchanged, compared to its average volume of 667,358. The business's 50 day moving average is $23.67 and its two-hundred day moving average is $20.16. NewAmsterdam Pharma has a fifty-two week low of $15.19 and a fifty-two week high of $27.29.

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.