NewAmsterdam Pharma (NASDAQ:NAMS) Receives $43.33 Average Target Price from Brokerages

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) has received a consensus recommendation of "Buy" from the six research firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $43.33.

Several equities research analysts recently issued reports on the company. Needham & Company LLC reduced their price objective on NewAmsterdam Pharma from $46.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Scotiabank increased their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 27th. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, March 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Finally, HC Wainwright restated a "buy" rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th.

NewAmsterdam Pharma Trading Down 0.9 %

Shares of NAMS traded down $0.21 during midday trading on Tuesday, hitting $23.37. The stock had a trading volume of 1,382,997 shares, compared to its average volume of 486,547. NewAmsterdam Pharma has a fifty-two week low of $15.19 and a fifty-two week high of $27.29. The business has a 50-day simple moving average of $22.00 and a two-hundred day simple moving average of $20.67. The firm has a market cap of $2.57 billion, a P/E ratio of -8.99 and a beta of -0.04.

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NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to analysts' expectations of $3.30 million. On average, analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $26.10, for a total value of $2,629,000.80. Following the completion of the sale, the insider now directly owns 10,908,502 shares in the company, valued at approximately $284,711,902.20. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Louise Frederika Kooij sold 150,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the completion of the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. The trade was a 90.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 388,916 shares of company stock valued at $9,231,268 over the last three months. 19.50% of the stock is currently owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in NewAmsterdam Pharma in the 4th quarter worth approximately $50,000. National Bank of Canada FI bought a new position in NewAmsterdam Pharma during the fourth quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in NewAmsterdam Pharma during the 4th quarter valued at $80,000. KLP Kapitalforvaltning AS bought a new stake in NewAmsterdam Pharma in the 4th quarter valued at $154,000. Finally, Quarry LP boosted its holdings in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company's stock valued at $108,000 after purchasing an additional 6,247 shares during the period. 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.