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 investment analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $42.00 target price on the stock. Needham & Company LLC's price objective suggests a potential upside of 177.78% from the company's current price.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Friday, January 24th. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Scotiabank increased their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $43.33.

NewAmsterdam Pharma Trading Up 1.5 %

NewAmsterdam Pharma stock traded up $0.22 during mid-day trading on Tuesday, reaching $15.12. The company had a trading volume of 567,215 shares, compared to its average volume of 583,005. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The company has a market cap of $1.66 billion, a P/E ratio of -5.82 and a beta of -0.01. The business has a fifty day simple moving average of $20.26 and a 200 day simple moving average of $21.26.

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NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates 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. Research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Activity

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the transaction, the chief accounting officer now owns 15,000 shares of the company's stock, valued at $305,550. This represents a 90.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James N. Topper purchased 4,005 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $21.02 per share, for a total transaction of $84,185.10. Following the transaction, the director now directly owns 3,012,434 shares of the company's stock, valued at approximately $63,321,362.68. This represents a 0.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of NAMS. Wellington Management Group LLP lifted its position in NewAmsterdam Pharma by 2,410.4% in the 4th quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock worth $59,499,000 after buying an additional 2,222,900 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of NewAmsterdam Pharma by 23.5% during the fourth quarter. California State Teachers Retirement System now owns 19,404 shares of the company's stock worth $499,000 after purchasing an additional 3,694 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of NewAmsterdam Pharma in the 4th quarter worth approximately $50,000. Frazier Life Sciences Management L.P. increased its position in NewAmsterdam Pharma by 23.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock valued at $409,052,000 after purchasing an additional 3,061,224 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NewAmsterdam Pharma by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,571 shares of the company's stock valued at $6,517,000 after buying an additional 14,288 shares during the period. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

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.